{"id":3063,"date":"2026-07-24T06:03:16","date_gmt":"2026-07-24T06:03:16","guid":{"rendered":"https:\/\/xrpfaucet.site\/?p=3063"},"modified":"2026-07-24T06:03:16","modified_gmt":"2026-07-24T06:03:16","slug":"assessing-enas-short-term-price-targets-after-26-4m-wallet-move-causes-a-stir","status":"publish","type":"post","link":"https:\/\/xrpfaucet.site\/?p=3063","title":{"rendered":"Assessing ENA’s short-term price targets after $26.4M wallet move causes a stir"},"content":{"rendered":"
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\ud83d\udcf0 Exclusive Crypto News & Analysis:<\/strong> Stay ahead with the latest developments in the cryptocurrency and blockchain space.<\/p>\n

\ud83d\udcc8 Market Update:<\/strong> Real-time price movements, technical analysis, and trading signals.<\/p>\n

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Ethena\u2019s Coinbase custody wallet transferred 290 million ENA worth $26.41 million to a personal wallet with a history of sending tokens to exchanges. As expected, the transaction<\/span> revived concerns about another round of market distribution because the receiving address previously moved ENA to Binance and Coinbase. <\/span><\/p>\n

However, traders did not immediately respond with aggressive selling despite the transaction\u2019s size. <\/span>Instead, market activity suggested participants waited for confirmation before adjusting their positions. <\/span><\/p>\n

The transfer also arrived while ENA traded near an important resistance zone, increasing attention on whether buyers could absorb any incoming supply. <\/span><\/p>\n

As a result, the wallet movement shifted focus towards exchange flows and price structure rather than creating an instant bearish reaction across the market.<\/span><\/p>\n

Spot outflows offset distribution concerns<\/h2>\n

Despite the large custody transfer, exchange flow data painted a more balanced picture at press time. ENA\u2019s daily spot netflow, for instance, remained negative at -$456.47K, indicating that exchange outflows still exceeded inflows. <\/span><\/p>\n

The reading suggested that the broader market continued to withdraw tokens instead of sending them to centralized exchanges for immediate selling. <\/span>Even though the custody transaction raised fresh concerns, aggregate flow data failed to confirm widespread distribution. <\/span><\/p>\n

In addition, recent sessions showed negative Netflows dominated most observations despite occasional positive spikes. <\/span><\/p>\n

That trend reduced immediate exchange supply and softened the bearish implications of the 290 million ENA transfer. <\/span><\/p>\n

Nevertheless, traders would likely require sustained negative Netflows to preserve that advantage because sustained inflows could quickly strengthen selling pressure.<\/span><\/p>\n

\"\"\"\"<\/a>
Source: CoinGlass<\/figcaption><\/figure>\n

Can ENA break above resistance next?<\/h2>\n

At the time of writing, <\/span>Athena (ENA)<\/span><\/a> was trading at around $0.0913 after extending its recent recovery towards the $0.0955-resistance level. <\/span>Buyers steadily defended higher lows, allowing price to recover from the $0.0788-support established earlier this month. <\/span><\/p>\n

Meanwhile, the 14-day RSI climbed to 63.83 while its moving average stood at 52.56, reflecting a hike in buying interest without entering overbought territory. <\/span><\/p>\n

That improvement suggested that bullish participation increased as the price approached its overhead resistance. <\/span><\/p>\n

Even so, ENA still traded beneath the stronger $0.1120 resistance. It remains the next major barrier if buyers secure a breakout above $0.0955. <\/span>Failure to reclaim that level would likely encourage another retest of $0.0788, whereas a confirmed breakout could open the path towards $0.1120.<\/span><\/p>\n

\"ENA\"ENA<\/a>
Source: TradingView<\/figcaption><\/figure>\n

Where could ENA\u2019s next volatility emerge?<\/h2>\n

Finally, liquidation data highlighted several leveraged positions surrounding ENA\u2019s press time trading range. <\/span><\/p>\n

The nearest concentration of short liquidations appeared slightly above $0.093, meaning a successful breakout could force bearish traders to close positions and accelerate buying activity. <\/span>However, substantial liquidity also clustered below $0.087, creating a downside magnet if the price loses its nearby support. <\/span><\/p>\n

Those opposing liquidation pockets alluded to leverage being balanced, despite the recent recovery. <\/span><\/p>\n

Rather than confirming a clear directional bias, the heatmap indicated volatility would likely increase once ENA reaches either liquidity zone. <\/span><\/p>\n

Traders should probably watch those levels closely because liquidation-driven moves often intensify short-term price swings beyond ordinary spot market activity.<\/span><\/p>\n

\"\"\"\"<\/a>
Source: CoinGlass<\/figcaption><\/figure>\n\n

Final Summary<\/h2>\n
    \n
  • Buyers approached the $0.0955-resistance while liquidation zones hinted at higher volatility ahead.<\/span><\/i><\/li>\n<\/ul>\n<\/p><\/div>\n

    \ud83d\udca1 Pro Tip:<\/strong> Bookmark our site for daily insights, market predictions, and expert trading strategies.<\/p>\n

    \ud83d\udd17 Explore More:<\/strong> Check our sections for in-depth guides, exchange reviews, and blockchain technology deep-dives.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    \ud83d\udcf0 Exclusive Crypto News & Analysis: Stay ahead with the latest developments in the cryptocurrency and blockchain space. \ud83d\udcc8 Market Update: Real-time price movements, technical analysis, and trading signals. Ethena\u2019s Coinbase custody wallet transferred 290 million ENA worth $26.41 million to a personal wallet with a history of sending tokens to exchanges. As expected, the …<\/p>\n","protected":false},"author":1,"featured_media":3064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","footnotes":""},"categories":[10],"tags":[357,358,1323],"class_list":["post-3063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-crypto-news","tag-ena"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts\/3063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3063"}],"version-history":[{"count":0,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts\/3063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/media\/3064"}],"wp:attachment":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}