Ethena (ENA) Price Rally: Why Caution Is Warranted Despite Bullish Momentum
Ethena [ENA] has caught the attention of traders following a breakout from its descending channel and a break in market structure on 10 May. This rally, which pushed ENA past the $0.35 mark, appeared to signal renewed bullish momentum, especially as the altcoin sector basks in Bitcoin‘s glow. However, a closer look at on-chain data…