Will Ethena [ENA] crack the $0.60 ceiling next? 3 signs say yes

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Will Ethena [ENA] crack the $0.60 ceiling next？ 3 signs say yes

Source: TradingView

Address growth and large transactions point to deeper adoption

Transactions in the $10K–$100K bracket surged 220%, while those in the $100K–$1M range ballooned 613.64%.

Naturally, this pointed to rising interest from both institutional and large-scale retail participants.

Source: IntoTheBlock

Source: CoinGlass

ENA leverage unwind intensifies as longs get wiped out

Overleveraged bulls initiated this reset as prices reached resistance. Clearing excessive long exposure, however, reduces market risk.

This shift allows for a more stable continuation if buyers return.

Santiment data showed a rise in the 0d–1d Realized Cap HODL Waves metric, now at 0.0915. This uptick signaled heightened short-term activity, likely from momentum traders.

While this adds volatility, it also injects fresh volume and liquidity. Importantly, it confirms that ENA has re-entered the markets focus.