🚀 Ethena Rockets 40% This Week — What’s Fueling the Surge? đŸ’„


$ENA just pulled off a 40.03% rally this week, hitting $0.8406 after a solid 11.59% jump in the last 24h. The hype isn’t random — Ethena’s TVL smashed $10B for the first time, fueling confidence in its DeFi ecosystem. Meanwhile, their synthetic stablecoin, USDe, became the 3rd largest stablecoin by market cap. 🏆


Here’s the kicker:

💾 $5M daily ENA buybacks are shrinking supply and creating scarcity.

🐋 Whale wallets holding 100k–1M ENA surged 12% in July, now controlling ~30% of supply.


Technically, ENA broke out of a bullish flag pattern on Aug 10, climbing from $0.64 to $0.84+. RSI readings show strong momentum (RSI-14 at 74.7, RSI-7 at 81.8), and MACD confirms a bullish crossover. ⚡


Key levels to watch:

đŸ”ș Upside targets at $0.87 and $1.02

đŸ”» Support sits near $0.70 — a break below could mean profit-taking toward $0.56 or even $0.47.


Watch out for volatility — nearly $30M ENA moved to exchanges recently. Could whales be preparing to cash out? đŸ€”