🚀 Ethena Soars 6% Before $25M Token Unlock – Bulls Hold Tight at $0.70? 💸

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In the shadow of the Silicon Valley sun, where the digital dust settles slow and the code runs deep, the ENA token clawed its way up 6% today 🚀. Like a stubborn ox in a drought, it drags its carcass toward $0.6843, market cap bloated to $4.53 billion. Volume? Up 46% to $540 million – folks trading it like it’s the last canteen in the desert.

Today’s unlock? 40.6 million ENA tokens, $25 million worth, spilling into the wild like coyotes into a chicken coop 🐺. Only 42% of the 15 billion supply’s loose already. Hope, that fickle friend, whispers sweet nothings into the bulls’ ears. But stick around – we’re diving into the entrails of this beast.

Ethena Price Analysis

The rally’s fueled by two ghosts: a $260M buyback scheme sucking up 3.5% of the float – the foundation’s splurging like a farmer after a rainstorm 💸. And USDe stablecoins, bloated to $11.6B post-GENIUS Act (because nothing says “genius” like doubling down on vapor money 🎩).\n\nENA eyes $0.70 like a gunslinger staring down a six-shooter. Fibonacci’s magic number at $0.772 looms. MACD, that mystical oracle of charts, says the bears are tuckered out. Break $0.70? Moonshot to $0.85-$0.95. RSI at 61.66 – bullish, but not drunk yet. Trip below $0.65, though, and the wolves might sniff blood at $0.56.

FAQs

Why’s ENA up today?
Because the foundation’s buying back tokens like a gambler doubling down on a losing hand 💸. USDe’s growth? Also juicing demand. What levels to watch?
Resistance: $0.70 (again, *always* $0.70) and $0.772. Support: $0.65 (hope) and $0.56 (despair). Unlock impact?
Sellers might flood the market like Okies fleeing a dust storm. But fundamentals? Stronger than a tin shack in a hurricane 🌪️.

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2025-09-02 13:24