ENA is the kind of bounce I actually watch: -12.3% to $0.182 yesterday after insider addresses pushed roughly $50M of ENA toward exchanges following the Oct 5 unlock, $8.2M in longs liquidated, and today it is +11.6% at $0.207 on around $40M of Binance volume. That reads like forced selling exhausting itself, not a thesis changing.
The washout candle cleared the weak hands, and this bounce has real volume behind it, which separates it from a dead-cat. But nothing about the supply picture changed: 13.4B of 15B ENA are circulating, and the next unlock lands Nov 2. This only becomes a real reversal if it takes out $0.216, today's bounce high. Lose $0.182 again and the flush was not finished.
$ENA $USDe
The washout candle cleared the weak hands, and this bounce has real volume behind it, which separates it from a dead-cat. But nothing about the supply picture changed: 13.4B of 15B ENA are circulating, and the next unlock lands Nov 2. This only becomes a real reversal if it takes out $0.216, today's bounce high. Lose $0.182 again and the flush was not finished.
$ENA $USDe