- ENA confirms a clean breakout as trading activity grows and a stronger price structure forms across the 4-hour chart.
- A large ENA wallet adds repeated 25M token batches, signaling steady accumulation and shrinking exchange supply.
- ENA maintains higher lows while volume expands, setting a constructive tone as the market digests the recent breakout.
ENA enters a constructive phase as price breaks its multi-week trendline, trading activity grows, and on-chain data shows continued accumulation from a large ecosystem-linked wallet.
Breakout Confirmation Fuels New Market Momentum
The ENAUSDT chart has shifted after a clean break above the dominant descending trendline. The move ended a long phase where lower highs and lower lows created a controlled downtrend. The candle that pierced the trendline formed with strength and minimal wick pressure, showing buyers gained control.
A retest followed the breakout, and price held above the reclaimed structure. This pattern is viewed as a clean shift in market behavior. Clifton Fx noted this breakout, stating that ENA is positioned for a broader rally as momentum builds above former resistance.
The chart also displays a projection zone that reflects the height of the recent compression block. This measured move suggests space for additional upside. ENA now trades near $0.2604, marking a 6.3% daily gain as volume increases across the active range.
Market Structure Strengthens as Volume Expands
The price rebound formed near $0.24, where intraday activity showed stable support. Data recorded at 11:23 GMT+3 placed ENA around $0.244975 with heavy volume, showing firm engagement. From that point, a stair-step pattern formed with higher lows guiding price toward the $0.27 region.
The rise toward $0.27 brought a brief slowdown, yet ENA stayed above its daily midpoint. This position signals that buyers remain active even as the market moderates. The circulating supply stands near 7.42 billion ENA, nearly half of the total supply.
Liquidity remains strong, with total value locked near $7.30 billion. This steady base supports ongoing market participation. Trading volume for the day reached $255.9 million, reflecting renewed interest during the advance.
On-Chain Accumulation Signals Steady Confidence
Large on-chain activity adds another layer to ENA’s recovery. A wallet tagged as “Token Millionaire,” linked to Ethena Labs, recently acquired 25M ENA from Bybit, valued around $6.7 million. This raises the wallet’s holdings to 285.15M ENA worth about $76.46 million.
Transaction history shows repeated 25M ENA inflows over several weeks. These structured batches indicate planned accumulation rather than isolated activity. Earlier transfers from an Ethena Labs contributor wallet further support this pattern.
Such repeated acquisitions reduce exchange supply and introduce a steady demand base during a period of rising market interest. The data reflects consistent confidence in ENA’s broader trajectory as price holds above the breakout region.
