Spot funds for 3 hours—12 candlesticks with not a single pause. In 24 hours, it’s up 12.88%. Whale long positions were cut after seven hours for a drop of 12.24%. Contracts actively matched—markedly signaling distribution and dispatch. Money has kept flowing in, but what you’re receiving is the cargo dumped by big players who’ve gone under.
The price touched 0.19 yesterday and was slapped back. Now it’s down 13.6% from the high point to 0.164. The 15-minute dual moving averages are pressing down from above the whole time, and the 4-hour chart has turned green-to-red by 3.19%. That long upper wick isn’t a shakeout—it’s someone using the spot buying momentum to dump at the top.
On-chain leverage lending ratio evaporated 99.94% in 12 hours. Meanwhile, the spot long/short margin ratio has skyrocketed to 60. The borrowed leverage has burned out. Retail accounts are still holding 61.8% longs, and the futures funding rate and basis are both negative—cheaper than the spot.
For ENA, I directly see it as bearish. I’m shorting. This 7-day, 40% move has reached the distribution phase. Unless the 15-minute moving averages reclaim and hold, 0.19 is recovered with volume, and the whale long-position share turns upward again—I won’t switch sides. #ena $ENA
The price touched 0.19 yesterday and was slapped back. Now it’s down 13.6% from the high point to 0.164. The 15-minute dual moving averages are pressing down from above the whole time, and the 4-hour chart has turned green-to-red by 3.19%. That long upper wick isn’t a shakeout—it’s someone using the spot buying momentum to dump at the top.
On-chain leverage lending ratio evaporated 99.94% in 12 hours. Meanwhile, the spot long/short margin ratio has skyrocketed to 60. The borrowed leverage has burned out. Retail accounts are still holding 61.8% longs, and the futures funding rate and basis are both negative—cheaper than the spot.
For ENA, I directly see it as bearish. I’m shorting. This 7-day, 40% move has reached the distribution phase. Unless the 15-minute moving averages reclaim and hold, 0.19 is recovered with volume, and the whale long-position share turns upward again—I won’t switch sides. #ena $ENA
