A whale removed 17.875 million ENA tokens worth $8.78 million from staking, causing concerns about the cryptocurrency’s price. The whale deposited all tokens on Binance, possibly indicating an intention to sell. This move may increase circulation supply and negatively impact ENA price. The whale purchased these tokens at an average price of $1.67, while the current price of ENA is $0.498, potentially resulting in a loss of over $12.09 million. If the whale decides to sell, ENA price might temporarily drop, but not significantly. ENA’s 24-hour trading volume has increased by 18% to $270.86 million, showing investor interest. Selling these tokens will have limited impact but could cause minor market fluctuations. Technical analysis suggests ENA price may face a decline near $0.428, followed by potential recoveries to $0.502, $0.617, and ultimately $0.808. Key support levels are at $0.343, $0.428, and $0.453, with key resistances at $0.671 and $0.808. If price reaches key support at $0.428, a strong price recovery and buying pressure may occur, possibly pushing the price towards resistance at $0.808.
