A whale staked 60 million ENA tokens worth approximately $4.73 million, representing nearly 0.63% of the circulating supply, immediately removing this allocation from liquid circulation. ENA is testing a critical support level at $0.0768 after breaking below its ascending channel, with the next support at $0.0700 and resistance at $0.0900. Exchange outflows reached -$455,650 over 24 hours, extending a sequence of negative netflows that reduce available sell-side supply. The OI-Weighted Funding Rate turned negative at -0.0054%, indicating bearish repositioning in perpetual futures contracts. The MACD completed a bearish crossover with the histogram at -0.0006, signaling weakening buying momentum.
Source: Read the original article
