$ENA is showing clear relative strength, up roughly 9-10% to $0.208 on elevated volume while Bitcoin chops sideways.
The move took ENA from the low-$0.19s through $0.21 resistance on about $345M in 24-hour volume, outperforming most large-cap alts. It has also gained around 15% over the past week, even as broader risk assets remain range-bound. Open interest and funding remain constructive, suggesting the bid is not purely short-covering.
This stands out against the quiet tape in BTC and ETH. Whether it holds above the $0.20 handle or fades back into the prior range will be the next tell.
How are you viewing the relative strength in names like ENA versus the majors right now?
#Altcoin #ENA #Ethena #crypto #RelativeStrength
The move took ENA from the low-$0.19s through $0.21 resistance on about $345M in 24-hour volume, outperforming most large-cap alts. It has also gained around 15% over the past week, even as broader risk assets remain range-bound. Open interest and funding remain constructive, suggesting the bid is not purely short-covering.
This stands out against the quiet tape in BTC and ETH. Whether it holds above the $0.20 handle or fades back into the prior range will be the next tell.
How are you viewing the relative strength in names like ENA versus the majors right now?
#Altcoin #ENA #Ethena #crypto #RelativeStrength