Justin Sun Wallet Moves 13.4M ENA Tokens to Binance

A wallet associated with Justin Sun has transferred 13.4 million ENA tokens, worth approximately $3.22 million, to Binance in the last nine hours. This move has added to the recent selling pressure on ENA and aligns with increased whale activity around the Ethena protocol.

The transaction raises concerns about the future price of ENA, as exchange inflows often signal potential distribution. Analysts are closely watching the 4-hour chart, where ENA is trading at $0.24 within the Bollinger band. The EMA50 is acting as immediate resistance at the same level, while the EMA200 provides support at $0.21.

Technical indicators suggest a bearish structure remains in place. The MACD death cross and a neutral RSI at 45.8 indicate that any potential bounce toward the $0.26 upper band is likely to stall before retesting the $0.23 lower band.