ENA Price Poised for 25% Rally Despite Whale Dumping
In the ongoing market uncertainty, see the uninstall (ENA) token of the crypto whale. Today, on March 6, 2025, a well-known crypto expert posted on X (formerly Twitter) that the whale has transferred $148 million worth of ENA tokens to the exchange in the past 48 hours.
Current price motivation
This massive token movement from wallets to communication has the potential to create sales pressure and drive price reductions. However, despite this, ENA prices shifted in the opposite direction, with growth rates of more than 8% over the past 24 hours and current trading is close to $0.38. During the same period, its trading volume soared by 160%, with traders and investors increasing participation compared to the previous day.
According to Chain Analytics, despite 148 million ENA tokens on the exchange, some investors and long-term holders are still accumulating tokens. Small shop.
Spot inflow/outflow data suggest that over the past 48 hours, the exchange has witnessed the outflow of ENA tokens worth $19 million. Outflows from exchanges indicate potential accumulation when prices fall, which may create buying pressure and upward momentum.
Businessmen are optimistic about bets
In addition to the emotional mix between whales and long-term investors, day traders support this bullish activity. In the past 24 hours, traders have high leverage on the lower side at $0.362 and $0.386 on the upper side.
The data further suggests that $0.362 is the key level for traders to build long-term positions worth $5.5 million, while $0.386 is the level for traders to build short positions worth $2.17 million. These positions at the level of excessive leverage suggest that the Bulls can support ENA in an upcoming rally, thus helping it recover its price.
ENA technical analysis and upcoming levels
According to expert technical analysis, ENA successfully retested its key support level of $0.345 and now appears to be rising.
According to historical price patterns, if the asset holds that level and closes the daily candle above $0.345, it is very likely that it will reach the $0.50 level in the coming days, potentially soaring 25%.
