Ethena Token Rises 30.98 in a Week Amid Strong Retail Demand and Bullish Indicators

Ethena (ENA) has shown a significant price surge in recent weeks, rising by 30.98% over the past seven days to reach a 7-month high of $0.855. The token has also gained 143% month-to-date and 152% year-to-date, reflecting strong retail demand and growing network activity. At the time of writing, ENA was trading at $0.8086, up 9.05% in the last 24 hours, driven by positive sentiment and steady capital inflows [1].

Santiment data reveals that Ethena has logged a positive Price DAA Divergence for seven consecutive days, signaling increased fundamental demand linked to rising network engagement. The on-chain profitability ratio further supports this trend, with 75.38 million transactions in profit versus 18.08 million in loss, suggesting that the asset may still be undervalued relative to its usage [1]. Coinalyze’s Buy-Sell Delta data also shows retail traders dominating spot buying, with $84.2 million in buying volume outpacing $75 million in selling pressure, indicating stronger bullish momentum [1].

However, despite the recent price gains, whale activity remains absent. CryptoQuant’s Spot and Futures Average Order Size metrics show no significant whale orders in the past 30 days, signaling caution among large market participants. The lack of whale-driven speculative activity could be a concern for traders hoping for a sustained move toward $1 [1].

From a technical standpoint, ENA has successfully defended the $0.60 support level and is currently above the $0.70 level, with the Parabolic SAR indicating a potential shift in control to buyers. A Stochastic RSI reading of 85.37 further confirms buying strength. If the price remains above $0.70, a move toward $1 could become plausible. Conversely, a failure to hold this level might lead to a pullback toward $0.55 [1].

Analysts have noted that while the token has the technical indicators to support a potential $1 breakout, the absence of whale involvement raises questions about the sustainability of the current rally. The broader market environment, including mixed sentiment and volatility, also adds uncertainty. Traders remain cautious, watching for confirmation of a breakout before committing to long-term positions [1].

Source:

[1] AMBCrypto. (2025, July 11). Ethena crypto price prediction – Can ENA breach $1 without whale support? https://ambcrypto.com/ethena-crypto-price-prediction-can-ena-breach-1-without-whale-support/