Important collection restaurants
Ethena collected 25.74% and reached a highlight of 6 months of $ 0.499. BUYERS have taken over more than 200 million tokens in the last 48 hours until De Tijd.
Since he broke out of a falling channel two weeks ago, Ethena [ENA] has experienced a long -term upward momentum. During this period, the Altcoin jumped from a local low of $ 0.25 to a highest point in 6 months of $ 0.499.
At the moment Ethena traded at $ 0.4908, which marked an increase of 25.74% in the last 24 hours. At the same time, the trade volume increased 132% of $ 778.8 million, while market capitalization increased by 24% to $ 3.15 billion.
Usually an increase in volume and market capitalization in each other’s signals increased capital inflow and growing activity on chains.
Ethena buyers make a strong comeback
After taking a step back for almost two weeks, Ethena buyers returned with force to gather.
According to Coinalyze, Ethena registered for the first time in ten days for two consecutive days of positive delta. On July 19, Ethena registered 105.31 million in purchase volume compared to 105.02 million in sales volume.
Source: Coinalyze
The same pattern was created the next day, with purchase volume of 106.12 million compared to 91.98 million in sales volume.
As a result, the market registered a buy-sell Delta of 294k and 14.14 million respectively. A positive delta implies that there are more buying orders compared to sales, a clear sign of aggressive place accumulation.
Futures look at more profit
According to Coinalyze, the long short ratio of Ethana jumped considerably and reached 2.58 from the moment of writing. So it seems that these buyers ran the market to position themselves.
Source: Coinalyze
Typically, when this metric rises to such levels, this indicates a higher demand for long positions. Investors who ran into the Futures market came in to take long positions.
In that case, long positions accounted for 72.09%, while short positions were good for 27.9% of the total futures positions.
Source: Coinalyze
This is further validated by the aggregated financing percentage, which has remained sustainable last week.
When the futures register a higher demand for lungs, this means that investors aggressively betting on prices to rise further.
Can Ena hold this profit?
According to the analysis of Ambcrypto, the upward trend of Ethena was strengthened as buyers returned forcefully.
As a result, Ethena reversed the advancing averages in the long term for the first time since February. At the moment, Ena was above long -term MAS with 200 mA with $ 0.4417 and 200ema at $ 0.41.
Source: TradingView
When the prices go beyond the long -term mum, it indicates a strong upward move and the potential to continue. That said, to maintain the bullish prospects, ENA must close decisively above 200 mA band.
By doing this, the upward trend will continue and Ethena will experience the following significant resistance around $ 0.68. However, if this upward movement fails and a withdrawal is caused, Ena returns to $ 0.41.