Ethena surges 41% with strong buying and short squeeze, hitting a 7-month high near $0.14.

Ethena (ENA) broke out of a multi-month downtrend, rising 41% to reach a seven-month high of $0.144 amid increased trading volume and market capitalization. The rally triggered a short squeeze, liquidating $4.2 million in short positions and boosting buying pressure. Spot investors and whales accumulated ENA, reducing supply on exchanges. While bullish momentum is strong, overbought signals suggest a possible short-term pullback before ENA could aim for $0.17 to $0.20 levels.