Key control
The accumulation of Arthur Hayes increases trust. In addition, long financing rates and balanced financing suggest a sustainable advantage of $ 1.16.
Etena [ENA] He has been under the center of attention when Arthur Hayes expanded his participations by acquiring 578,956 tokens worth $ 467.7K of Binance.
This addition brought its total stash to 5.02m ENA, now valued at $ 3.91 million.
The purchase occurs when Ena Price is consolidated above the key levels of Fibonacci, which reflects the renewed market confidence. Such accumulation of whales often agitates speculation about possible outbreaks.
Ena Price Eyes Breakout
Ethena’s pricing table revealed a cup and developing pattern at the time of publication, a configuration known for its upward continuation.
The Token quoted at $ 0.78, keeping close to the 0.5 fibonacci setback at $ 0.77. Above this, resistance lies at $ 0.84, with objectives that extend to $ 0.95 and $ 1.16, Extension 1.618.
However, lack of maintenance above $ 0.73 could invite for sale in the short term. Even so, the structure highlighted optimism, since cup and handling patterns often precede extended manifestations.
If ENA continues to climb, you could validate the bullish pattern and open the door to the level of $ 1.16 highlighted in the table.
Source: TrainingView
Long merchants prepare the stage
Binance data show that long accounts now dominate the perpetual ENA, which have 72.97% against shorts of 27.03%. This imbalance takes the long relationship to Short to 2.70, underlining an overwhelming bullish feeling.
Such aggressive positioning often creates conditions for extended advantage, although it also increases the risks of liquidation if the impulse fades.
However, the predominant domain suggests that merchants remain sure of more upward movements.
Therefore, ENA Price could find significant support from leveraged buyers, strengthening the case of an upward impulse sustained in the short term.
Source: Canderlasss
Financing rates hint cooling
Despite the clear long bias, the weighted financing rate in OI of ENA was slightly negative at -0.008% at the time of publication. Therefore, long merchants did not pay too much to maintain positions, pointing out balanced market conditions.
However, financing has oscillated around neutral in recent days, which reflects a cautious feeling despite the strong upward exposure.
Therefore, although the weight of the long support the bullish narrative, the financing rates showed that the merchants were not excessively leveraged.
This cooling effect could actually stabilize the AA price action, providing space for a healthier rally instead of an acute and overheated increase.
Source: Canderlasss
Can Ena Price maintain your impulse?
The strategic accumulation of Arthur Hayes, combined with a bullish technical pattern and a strong long positioning, said an optimistic configuration.
However, the slightly negative financing rate suggested that the market was avoiding the unhealthy overexposure.
ENA seems prepared for more rise if the support is maintained, with the extent of Fibonacci of $ 1.16 as a realistic objective.