This $100 Million Event Could Crash Ethena (ENA) Price on August 5
Main Idea
Ethena (ENA) faces potential short-term price volatility due to a $100 million token unlock on August 5, 2025, with mixed technical indicators suggesting both bullish and bearish possibilities.
Key Points
1. ENA’s $100M token unlock on August 5 may trigger short-term sell pressure, releasing 2.7% of its total supply.
2. Price is consolidating between $0.580–$0.620 with bullish bias, but a break below $0.580 could lead to a pullback.
3. Trading volume surged 34% to $1.16 billion, indicating high trader engagement, while MACD shows weakening momentum.
4. RSI at 62.88 nears overbought territory, suggesting potential for a cooling-off period despite bullish sentiment.
5. Ethena’s Total Value Locked (TVL) remains strong at $9.45 billion, reflecting a robust protocol backbone.
Description
ENA’s $100M unlock and exchange inflows may trigger short-term sell pressure. Price consolidates between $0.580–$0.620 with bullish bias toward breakout. Rising volume contrasts weakening MACD, hinting at possible near-term correction. Ethena (ENA) is approaching a key event with a $100 million token unlock scheduled for August 5. This unlock will release 2.7% of its total supply into the market, a significant event that could impact the price. Adding to the tension, 250 million ENA tokens, wort...
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