$ENA is starting to look interesting . The setup feels different this time. Ethena has several strong catalysts lining up: governance approved using 100% of net protocol revenue for programmatic $ENA buybacks, seed investor selling has been addressed, and monthly VC unlocks have been eliminated. On the fundamentals side, Ethena is backed by a $1B FalconX credit facility and maintains around $4B in TVL. Then there’s the trading side. ENA is already among the Top 5 trading pairs on Bitget, showing strong derivatives interest. For me, the key is watching whether this momentum can turn into a sustained breakout rather than chasing the first pump. If you're trading ENA, what’s your setup? I’m watching the chart closely and looking for confirmation before taking a position. $BTC #BTC Price Analysis# #Macro Insights#