- An Ethena-linked wallet moved 170M ENA to FalconX, potentially preparing the tokens for an OTC sale.
- ENA has rebounded four times from its rising channel trendline, with gains ranging from 8.5% to 28.8%.
- ENA needs to hold $0.081 to target $0.092 and potentially challenge resistance near $0.104.
An Ethena-linked wallet moved 170 million ENA worth about $14.09 million to FalconX one hour ago. Onchain Lens said the transfer likely prepared the tokens for an OTC sale. The move came as analyst Ali watched ENA’s $0.081 support, after repeated rebounds from its rising channel trendline.
$14M ENA Transfer Reaches FalconX
According to Onchain Lens, the wallet likely links to the Ethena team. It originally received ENA from Ethena’s Gnosis Safe last year. The wallet deposited 170 million ENA to FalconX, according to the onchain tracking account.
Onchain Lens valued the transfer at approximately $14.09 million. The transfer occurred while ENA traded near $0.084. Price remained below the 50-day moving average near $0.086.
However, ENA sat around the 200-day moving average near $0.084. That leaves the token close to a key technical level after its latest pullback.
Ali Watches $0.081 Support Level
Analyst Ali identified $0.081 as the key support level in the current setup. Since June, each test of ENA’s rising trendline within its ascending channel produced a rebound. Those four rebounds delivered gains of 16.5%, 28.8%, 8.5%, and 24.8%.
Ali said another hold at $0.081 could put the mid-range near $0.092 into focus. He also identified the channel’s upper area around $0.104 as another level to watch. The latest price remains below the $0.086–$0.089 recovery area.
That resistance range sits near the 50-day moving average. A move above it would place $0.095 and $0.099 among the next chart levels.
ENA Holds Near Major Moving Averages
ENA previously peaked around $0.137–$0.138 in early May before entering a steep decline. The sell-off accelerated into June, taking price toward $0.074–$0.075. The token then recovered toward $0.094–$0.095 in late July and early August. However, that rebound failed to establish a sustained higher high.
The supplied analysis places the next upside levels at $0.099 and $0.109. On the downside, losing $0.080 could expose ENA to the June lows. Daily active addresses currently stand near 372. The chart also shows unusually large activity spikes during June.
