Main to remember
Arthur Hayes’ accumulation ENA strengthens confidence. In addition, high long domination and balanced financing rates suggest a lasting advantage to $ 1.16.
Ethena (ENA) became under the spotlight while Arthur Hayes expanded his assets by acquiring 578,956 tokens worth $ 467.7,000 in Binance.
This addition pushed its total hiding place at 5.02 million ENA, now estimated at $ 3.91 million.
The purchase comes as the ENA price is consolidated above the key levels of Fibonacci, reflecting renewed trust in the market. Such accumulation of whales often arouses speculation about potential escapes.
Ena Price Eyes Breakout
Ethena’s price table revealed a developing and handling model at the time of the press, a configuration known for its upward continuation.
The token exchanged $ 0.78, holding near the retracement of 0.5 fibonacci at $ 0.77. Above this, the resistance took place at $ 0.84, with targets extending to $ 0.95 and $ 1.16, the extension of 1.618.
However, non-compliance with $ 0.73 could invite short-term sale. However, the structure has highlighted optimism, because the cutting and sleeve models often precede prolonged gatherings.
If ENA continues to climb, it could validate the bullish motif and open the door to the level of $ 1.16 highlighted on the graph.
Source: tradingView
Long traders have prepared the way
Binance data show that long accounts now dominate ENA Perpetuals, holding 72.97% compared to 27.03% shorts. This imbalance pushes the longtime ratio to 2.70, highlighting a crushing bullish feeling.
Such aggressive positioning often creates conditions for prolonged increase, although it also increases the risks of liquidation if the momentum fades.
However, dominant domination suggests that traders remain confident in upward movements.
Thus, ENA Price could find significant support from leverage buyers, strengthening the case of a short -term bullish momentum.
Source: Coringlass
Financing rates indicate cooling
Despite the long clear biases, the weighted funding rate in OI of ENA was slightly negative at -0.008% at the time of the press. Thus, long traders did not pay too much to maintain positions, reporting balanced market conditions.
However, funding has oscillated around neutral in recent days, reflecting a prudent feeling despite a strong bullish exhibition.
Consequently, while the weight of long supports the Haussier story, the funding rates have shown that traders were not excessively exploited.
This cooling effect could actually stabilize the action of ENA prices, offering room for a healthier rally rather than a clear and overheated increase.
Source: Coringlass
Can the ENA price maintain its momentum?
The strategic accumulation of Arthur Hayes, combined with a bullish technical model and a strong long positioning, pointed out towards an optimistic configuration.
However, the slightly negative financing rate suggested that the market avoided unhealthy overexposure.
ENA seems ready to rise if the support holds, with the Fibonacci extension of $ 1.16 as a realistic target.
