Ethena increased by more than 5% on Thursday, now trading around 0.63 USD. The rebound in Open Interest above 1 billion USD suggests strong confidence among traders, while recent liquidations primarily affected short position holders.
The technical indicators show a bullish structure for Ethena, with solid support above critical moving averages. The MACD points to growing buying momentum, indicating potential upward movement towards resistance levels of 0.70 USD and eventually 1.00 USD.
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