CandleFocus Ethena Looks Bearish As Top Holders Sell
2024-10-24
Author: Content Editor
The price of Ethena (ENA) has dropped following significant sell-offs by major holders, including a founder associated with MakerDAO. The sale of 2.04 million ENA caused the price to drop by 1.95% in the past 24 hours. The market has become volatile as investors are concerned about this sell-off. ENA's trading volume has increased, but the sentiment is bearish as the price and market cap have fallen. Technical analysis suggests that ENA's price movement is bearish, and it is currently in a downward channel. The market's response in the next few days will determine whether ENA can regain its momentum or continue to face downward pressure. The actions of major stakeholders have a significant impact on token prices and stability.
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