ENA +936.85% in 24 Hours Amid Strong Short-Term Gains

On SEP 2 2025, ENA surged by 936.85% within 24 hours, reaching $0.6171. Over the past week, the asset climbed 161.08%, and over the past month, it recorded a 747.11% increase. Despite these sharp gains, the 1-year view remains mixed, with a year-over-year decline of 2438.14%. These movements highlight a dramatic short-term reversal in sentiment and trading behavior, suggesting a renewed focus on ENA as an investment target.

The price movement has sparked renewed interest in ENA, particularly among traders tracking on-chain metrics and market structure signals. Analysts have noted that the recent rally appears to be driven by a combination of speculative inflows and reduced bearish positioning. There are also indications that key resistance levels have been decisively broken, allowing for a rapid revaluation. The absence of large-scale selling pressure has further contributed to the upward momentum.

Technical indicators currently show a strong bullish bias. The 50-period and 200-period moving averages are both trending upward, with the 50-period line now well above the 200-period, a classic sign of a bullish crossover. The Relative Strength Index (RSI) is positioned in the overbought territory, suggesting a potential for consolidation or a pullback in the near term. However, given the strength of the current upward trend, a continuation of gains appears more likely than an immediate reversal.

Backtest Hypothesis

A backtesting strategy has been designed to evaluate the effectiveness of entering positions during sharp upward trends similar to the recent ENA movement. The hypothesis is built around a set of technical conditions: the 50-period moving average crossing above the 200-period, RSI above 60, and a closing price above the previous day’s high. These conditions are combined to identify potential entry points during strong upward momentum.

The strategy was tested using historical data across multiple timeframes, with a focus on capturing early entries during bullish breakouts. The results suggested a high success rate in capturing initial upward moves, particularly when combined with tight stop-loss parameters. The key assumption is that strong price action, especially during early stages of a breakout, is more likely to continue than to reverse.