Ethena’s team reportedly sold $3.45 million worth of ENA tokens on the OKX exchange, raising concerns about additional selling pressure. The protocol’s net outflows reached approximately $104 million on October 8th, levels not seen since July, indicating capital flight from the protocol. ENA’s price dropped to as low as $0.21, losing its 20-day exponential moving average support and putting the $0.20 level under pressure. The relative strength index (RSI) stands around 50.64, near the neutral point, suggesting weakening buying momentum.
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