Markets· ★★· neutral·

Ethena's ENA Rises 6% to Channel Top as Buybacks Stay Off

  • —ENA reclaimed its 50-day SMA near $0.204 and broke the channel top
  • —USDe supply sits at $4.76B versus the $7.5B buyback trigger
  • —275M ENA worth about $57M unlocks on November 1
  • —RSI crossed back above 50 to about 50.5 on 131.9M ENA volume
Why it matters: Without protocol buybacks the rally rests on chart buyers alone, and the November 1 unlock could revive selling pressure.
#ENA
Source: Coindoo
More on this
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Ethena gains 7% as fee-funded ENA buyback plan takes shape
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Ethena drops 12.3% to $0.184 as long liquidations top $8.2M