Whales Load Up 2.8 Million ENA, Could Ethena Price Hit $5 Soon

ENA price is gaining a lot of attention after a whale craze. On-chain data revealed significant purchases of nearly 2.8 million ENA in a single week. This renewed accumulation follows a brief correction that cooled off recent market gains.

Analysts now estimate new entry levels that could help guide the next phase of ENA’s rally.

Whale Activity Helps in Ethena Price Recovery

On-chain analyst Ali shared that whales bought about 2.8 million ENA during the last week. Data from Santiment revealed that wallet holdings between 10,000 and 100,000 ENA have been steadily increasing. Their combined balance is now close to 82.6 million tokens.

The rise in whale addresses reflected increasing interest from bigger investors. Such accumulation was often followed by rallies after short-term traders exited the market. Despite this, ENA price is still lower than $0.60, indicating that buyers and sellers are still balancing out.

Ali’s chart indicated spikes in accumulation even as the prices corrected. It implied that smart money is quietly accumulating positions rather than exiting. This pattern suggests optimism that the token may recover strength once market pressure reduces.

Analyst Sees $0.50 as Key Re-Entry Level

Analyst Crypto Patel announced over 250% profits from his earlier ENA setup. After making gains, he identified two new levels of re-entry: around $0.50 and deeper, near $0.40. These areas are indicated as green zones on his chart.

Patel expects these levels to be accumulation zones before another major uptrend. He also keeps a long-term $5 target. His analysis indicated resistance at $0.68 with breakout targets at $1.25, $2.60, and $5.00.

He recommended staggered entries to manage risk and maximise exposure should the price rebound. Patel’s roadmap is aligned with whale accumulation patterns, displaying a strong convergence between on-chain and technical signals.

Early Investor Transfers $3.3M ENA to Binance

Blockchain researcher The Data Nerd reported that an early ENA investor transferred 5.6 million ENA, worth $3.33 million, to Binance. The address casualpig.eth got 5 million tokens from vesting before the transfer.

Such movements typically indicate scheduled vesting distributions, rather than panic selling. Arkham Intelligence data confirms the same address, making similar transfers a month earlier. The timing, however, coincided with the arrival of new whales.

This caused short-term uncertainty as supply catches up to new demand. Still, these transactions may assist in balancing liquidity as trading volumes increase. The transfers highlighted the impact of early investors, which can affect ENA price sentiment across the exchanges.

Three-Part Buying Strategy for Ethena price

Analyst Nehal recommended traders “buy in three parts,” noting the chart structure of ENA remains constructive despite its pullback. His daily chart displayed a bullish channel, with definite support at approximately $0.46 and resistance at $0.98. The setup proposes staggered entries to handle volatility.

Nehal expected ENA price to either bounce towards $0.74 and $0.98 or dip once more to the green support zone before recovering. The orange and yellow paths on his chart highlighted these scenarios with upside potential if the token holds above $0.46.

This three-tier strategy is consistent with the overall market trend, where layered entries minimize exposure to false breakdowns. Nehal believed the structure resembled past mid-summer patterns that resulted in quick recoveries once volume returned to the spot market.