#CreatorPad

is the notional value of all futures or options contracts, reached its highest point at $1.35 billion. This was because more and more traders were betting that the price of Ethena would go up.

The price of Ethena is above support around $0.60 right now, thanks to a strong DeFi ecosystem and growing interest from retail investors. The coin is also above important moving averages, including as the 50-day Exponential Moving Average (EMA), which is now at $0.57, the 100-period EMA, which is at $0.53, and the 200-period EMA, which is at $0.46. If the slide from last week continues, these levels would act as provisional support to keep ENA from falling to $0.40.

Traders should keep an eye on the RSI to see if it keeps going down near the midline. This might suggest that purchasing pressure is going down. If the RSI, on the other hand, starts to rise again into overbought area, the path of least resistance would still be up, which would make it more likely that ENA would keep going up to the $0.70 and $0.75 levels, respectivel