Earlier in the day, more than 40 million ENA icons were opened, which sparked widespread forecast for sharp prices.
However, the expected sale process was not achieved, as the original distinctive symbol of Ethina was displayed prominent flexibility. With the promotion of bullish prejudice, Altcoin can record new gains.
Traders accumulate in Ena as 40 million opening symbols
according to codeNearly 41 million Ena symbols, valued at more than $ 12 million, were opened at the current market prices, at about 7:00 am UAE on Monday.
Although the distinctive symbol of Ethena is opened, which represents a significant increase in the traded symbols, Ena has only declined by 1 % over the past 24 hours. This silent reaction indicates that the bullish feelings between the distinguished symbols helped absorb the additional offer, which prevents a deeper decrease.
As of the writing of these lines, the open interest of ENA futures increased by 2 %, indicating an increase in the circulating participation. It is currently $ 387 million.
The open interest indicates the total number of derivative contracts due, such as future contracts or permanent scores, which have not yet settled. The rise in OI indicates that the new funds enter the market, which can reflect the increasing interest and condemnation among merchants.
In the case of Ena, the rise in OI indicates that traders open more situations, probably in anticipation of continuous apostasy or stability despite the unique symbol.
Moreover, the distinctive symbol financing rate is positive, indicating high demand for long jobs. At the time of the press, the ENA financing rate was 0.0059 %.
Funding rates are periodic payments that are exchanged between long and short traders in permanent future contracts markets to maintain the price of the contract with the immediate market. When financing rates are positive, traders who have long jobs are pushing those who have short jobs.
Next Ena Step: Support for Re -Test or Assembly about $ 0.41?
Ena is currently sharing hands at $ 0.30, and trading on the bottom of the support consisting of $ 0.24. If the upscale pressure strengthens, the distinctive symbol can climb about $ 0.37.
If this resistance collapses, you may pay the price of Ena to $ 0.41.
However, if sales gain momentum, the ENA price may be deepened to $ 0.24.
Disintegration
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