Ethena’s short-term direction hinges on 0.37 USD resistance – will bulls prevail?

Ethena (ENA) is facing a critical resistance at 0.37 USD. A successful breakout above this level may lead to prices reaching 0.45 USD.

94% of holders are at breakeven, creating psychological barriers. While retail investors are increasing stakes, whale activity is declining.

Recent trading shows outflows of 10.53 million USD against inflows of 7.83 million USD. Open interest in ENA derivatives has risen by 10.51%, indicating increased speculative activity.