2026-01-10 05:30:22

ENA showing signs of recovery momentum—up 1.04% over the past 24 hours as Ethena Labs executed a significant $12.18M token buyback. This kind of on-chain support typically signals team conviction and provides a floor for price action.

Technically, the token has reclaimed the $0.234 level (30-day simple moving average), which matters because it's been acting as key resistance. More importantly, MACD is flashing bullish crossover signals—long crossing above the signal line. That's the kind of confluence traders watch for: institutional buying pressure meeting positive technical setup.

The real question now is whether this momentum holds or fades. Buybacks alone don't guarantee rallies, but combined with improving technical indicators and market sentiment shifting back positive, ENA has room to run if broader market conditions cooperate.

ENA-0,27%

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StakeOrRegret

· 01-13 01:48

Wait, a buyback of 12 million can make it take off? I think this move still depends on BTC's mood.

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BankruptcyArtist

· 01-12 16:22

1. 12 million buyback is indeed something, but just a 1% increase... I'm still waiting for a real rally. 2. The 2MACD golden cross is good, but how long this wave can last is really uncertain; if the market turns, all efforts will be in vain. 3. The bankruptcy candidate says, watching the 0.234 repeatedly pulled back, when will it break through to be meaningful? 4. Honestly, the team spending money to buy their own coins at least shows they haven't given up... or maybe there's simply no other choice. 5. Whether ENA can rally mainly depends on the market sentiment; even the best technicals are useless in a bear market.

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GamefiEscapeArtist

· 01-10 05:59

Buying back $12.18 million and only rising by 1.04%? How sluggish is that, haha

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ImpermanentSage

· 01-10 05:58

Buying back 12 million dollars is quite a bold move; now it's just a matter of whether it can withstand the subsequent sell-off.

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SchrodingersFOMO

· 01-10 05:31

Buying back 12 million looks pretty good, but we all know in the end it still depends on whether the market approves or not --- MACD golden cross sounds fancy, but how much it can actually rise is hard to say... Let's wait and see --- The team buying coins with their own money shows some confidence, but whether the 0.234 level can hold is the key --- Both technical analysis and institutional buying pressure are valid points, but I'm just worried that a single pullback could wipe it all out --- $12.18M buyback sounds impressive, but what proportion does it actually represent of the circulating supply? That's the real question --- Everyone's right, but I just want to know how long this recovery can last, and where the next resistance level is

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