Ethena (ENA) trades near $0.093 amid weak demand despite a large Amber Group-linked wallet buying 38.89M ENA.

Ethena (ENA) has been trading in a narrow range between $0.090 and $0.093, with weak overall market demand despite a significant purchase of 38.89 million ENA tokens by a wallet linked to Amber Group. This large buy suggested potential accumulation, but broader market indicators like positive exchange netflows and negative USD inflows indicate sustained selling pressure. Technical signals show modest buyer advantage, so if large buyers return, ENA could break above $0.093 and target $0.10; otherwise, a drop below $0.090 could lead to a decline toward $0.086.