$ENA Ethena (ENA) crypto is about to unlock 171.85M tokens starting on the 6th of August, worth around $103.02M at the current price (about 2.70% of the market cap). This is one of the biggest unlocks since the Trump meme coin’s supply unlock.
But, despite that, the ENA Crypto price has been holding strong lately and hasn’t really reacted much. It’s actually pumped over 140% in the last month.
The ENA crypto chart is in a good place right now; trading above the 5, 10, and 20-day moving averages shows it’s still bullish. The price recently pushed past $0.60, then got rejected at resistance around $0.62.
If it can hold above $0.50–$0.55, we might see it push higher, maybe even hit $0.70 or $0.75. RSI cooled off from overbought levels (75), so it’s taking a breather, but if it stays above 50, we’re suitable for more upside.
MACD’s still showing positive momentum, but if it starts converging with the signal line, that’s a sign the trend could slow down. Keep an eye on the volume; if it stays strong, we might see ENA break past resistance.
Historically, ENA does exceptionally well in the post-unlock 7-day period. However, none of the previous unlocks was this big. It will be interesting to see if they can do it again this time.
Ethena Labs just crossed $10B in TVL, mainly thanks to the USDe 11% APY, which is now trusted by most in the market.
Despite the price, Ethena (ENA) hit a new all-time high market cap of $3.83B. The previous peak was in January of this year at $3.7B. While ENA is looking mostly bullish, this high market cap can limit traders’ profits.
That’s why investors who missed Ethena’s run are now eyeing new coins. Snorter presales are fitting right in, offering high APY for coin stakers.
