Ethena (ENA) has dropped by 14% in the last 24 hours, mirroring a general downturn in the cryptocurrency market which fell by 2.77%. Despite the slump, retail investors view this as an opportunity, leading to a surge in accumulation.
Community sentiment for ENA improved from 80% to 84%, showcasing increased investor confidence. This positive shift accompanies approximately 4.63 million USD worth of ENA bought by new traders, contributing to total accumulation of about 19.07 million USD in the past four days.
The Futures market shows bearish sentiment, indicated by a 13.79% decrease in Open Interest and a negative Funding Rate of -0.0009%. Liquidity analysis suggests a price target of around 0.35 USD for ENA, following a neutral market stance.
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