$ENA 15 minutes of sell orders is 1.46 times the buy orders; the price only drops 0.14%—the harder they smash, the tighter the price holds!
Current price 0.2543, 1 hour ago 0.2574. 24h high 0.26436, low 0.24308. 24h change +1.444%, trading volume 300 million. Active buy/sell over the last hour is 0.933; it drops to 0.683 over the last 15 minutes—sellers are taking the orders first. Position value is 149 million; down 2.11% over the last hour. This is old positions unwinding—it's not new short pressure piling on. Funding rate 0.005%: longs pay just a little; not crowded. Standard Chartered Bank’s first coverage of Ethena (cryptonews) matches the direction of the order book.
Sell pressure is one-sided, yet it hasn’t managed to force a larger drop. Cutting positions suggests the exit is profit-taking. This move is more likely to grind at a low level and then rebound. Retrieving the 1-hour-ago price of 0.2574 is the point that really confirms support; breaking below the 24h low of 0.24308 is the signal to cut it off.
#ENA order book
Current price 0.2543, 1 hour ago 0.2574. 24h high 0.26436, low 0.24308. 24h change +1.444%, trading volume 300 million. Active buy/sell over the last hour is 0.933; it drops to 0.683 over the last 15 minutes—sellers are taking the orders first. Position value is 149 million; down 2.11% over the last hour. This is old positions unwinding—it's not new short pressure piling on. Funding rate 0.005%: longs pay just a little; not crowded. Standard Chartered Bank’s first coverage of Ethena (cryptonews) matches the direction of the order book.
Sell pressure is one-sided, yet it hasn’t managed to force a larger drop. Cutting positions suggests the exit is profit-taking. This move is more likely to grind at a low level and then rebound. Retrieving the 1-hour-ago price of 0.2574 is the point that really confirms support; breaking below the 24h low of 0.24308 is the signal to cut it off.
#ENA order book
