Ethena Price Don Bounce Back as Whales Dey Buy, 30% Upside Dey Sight
Ethena price rise from $0.222 go up reach $0.47, increase over 210% as USDe stablecoin keep e $1 peg after small dip. Whale wallets add their ENA tokens from 39.2 million to 46.6 million. Ethena Labs show reserve proof wey pass collateral total $12.25 billion for BTC, ETH and liquid stablecoins against $12.18 billion USDe supply. New partnership with Conduit open stablecoin development for 55% Ethereum chains. Exchange balances drop from 4.94 billion to 4.58 billion ENA, reduce selling pressure. Even though bearish EMA death cross risk dey, technical analysis show double-top break for $0.606 and e bounce back to $0.50. If e fit hold pass $0.606 well, e fit push side go up 30% more, if e no do am, e fit test the year low wey be $0.1475.
Bullish
Ethena price don bounce strongly from record low, as whales dey accumulate and exchange balances don reduce, showing say confidence dey grow. Partnership with Conduit don expand the ecosystem, fit increase demand. Technical analysis show breakout pass the double-top neckline for $0.606, meaning say 30% rally fit happen. Even though 50/200-day EMA death cross dey signal caution, the current momentum and fundamental support from over-collateralized reserves make ENA look bullish for both short and medium term.