Ethena (ENA) surged 13% to approximately $0.10 following the launch of a new Hyperion liquidity pool offering a staggering 59% annual percentage yield (APY). The pool quickly attracted $11 million in total value locked (TVL). This development coincided with a bullish divergence on the daily chart: whale holders increased their positions by 18.62% in 24 hours, signaling heavy buying pressure.
Key Metrics
Despite the recent rally, Ethena is still down 48% over the past three months. The price now faces a critical resistance level at $0.13, which has been repeatedly rejected since early February. The latest candle shows long upper wicks, suggesting profit-taking that could cap further gains. A breakout above $0.13 is essential for a sustained uptrend.
Whale Activity & Market Sentiment
On-chain data reveals that addresses holding between 1 million and 10 million ENA grew by 18.62% in the past day, reflecting strong accumulation by large investors. Meanwhile, the Hyperion pool's high APY continues to attract liquidity providers, creating additional support. If whale buying persists, Ethena may challenge the $0.13 resistance again.
Technical Outlook
From a technical perspective, Ethena needs to decisively break above $0.13 to confirm a new uptrend. Failure could trigger a pullback toward the $0.08 support zone. The RSI is currently neutral-bullish, leaving room for further upside. Traders should monitor whale wallet changes and TVL growth in the Hyperion pool as leading indicators for near-term price action.