Ethena price outlook: Is ENA on track to reach 1 USD despite significant sell-offs from whales?

A significant deposit of 34 million ENA into Binance sparked distribution risks, even as sentiment improves. This, coupled with over 140 million ENA sold, raises concerns about market absorption capability.

The cup-and-handle pattern suggests potential targets of 1.00 to 1.25 USD if bulls maintain control above 0.85 USD. Enhanced trading volume indicates rising market interest in ENA despite pressing sell pressures.