- Athena (ENA) is testing important support at $0.085.
- The shipment of 290M ENA wallets caused concern in sales.
- Bitcoin’s next move may determine where OTHERS are headed.
Athena is back on the front foot after taking a big hit that showed interest at a time when the token was already testing a key price point.
While the move raised concerns about potential sales pressures, the market’s growing momentum remains.
ENA tries a big help when the transfer of the whale attracts attention
Athena was trading at $0.08695, down 2.4% over the past 24 hours, after moving between $0.08530 and $0.09125 during the session.
Although the daily decrease has put pressure on the indicator, ENA is still up 8.3% in the last seven days and 11.1% in the last two weeks, showing that it has regained part of the losses recorded at the beginning of this year.
The latest market attention came after a wallet connected to Athena’s Coinbase custody holdings transferred about 290 million ENA, worth about $26,4 million, to another wallet that already interacted with the cryptocurrency.
Today, Athena’s Coinbase custody wallet (0x631) has transferred 290m $ THISworth $26.41m, to personal wallet 0xfDD.
Based on its trading history, the 0xfDD wallet often transfers ENA to personal wallets, which are used to trade tokens on Binance and Coinbase.… https://t.co/CkCGU73kLv pic.twitter.com/jkB8dFUNEG
— Nazo (@Nazo_ku) July 23, 2026
This growth in sales is often a cause for concern as it can outpace exchange deposits and sales volume.
However, the transfer itself did not trigger a wave of sales.
Market data showed that exchange netflows remained negative, meaning that MORE continued to leave exchanges than join them. This means that the sale has not yet translated into a forced sale in the real estate market.
Such a transfer has become an important indicator for traders rather than a confirmation of a bearish trend.
Focusing now on whether another transfer to the central exchange follows the coming sessions.
A decrease in sales volume indicates a weak sales sentiment
Another common feature is the decline in business activity.
ENA recorded about $ 89.4 million in sales in 24 hours, while the latest market data shows that daily sales fell by 40% compared to the previous sessions.
A decline in sales in a bearish market often indicates that sellers are becoming aggressive rather than accelerating their positions.
Although this does not guarantee a reversal, it also means that the recent weakness has not been followed by a significant abnormal reaction from the market.
The stock price history also provides additional information.
ENA peaked at $1.52 in April 2024 but is currently trading about 94.3% below that level.
At the same time, it remains about 23.4% higher than it fell to $0.07023, recorded on June 30, 2026.
These numbers show that ENA continues to trade closer to its recent lows than it has in the past, making current support important for short-term price control.
$0.085 remains what traders are watching
From a technical point of view, $0.085 has emerged as the most important support level in the near term.
A sustained move below this area, especially if accompanied by a bullish trade, would create the possibility of a move down to the next major support near $0.080.
On the downside, resistance is starting to form between $0.093 and $0.096.
Price data also points to a near-term break above $0.093, suggesting that a positive move in this area could lead to further buying as fewer positions are forced to close.
Currently, ENA is still caught between two major technical areas, leaving traders looking for confirmation rather than anticipation.
Bitcoin’s next move could shape the path of OTHERS
Beyond real information, Bitcoin continues to play an important role in the short-term vision of ENA.
Market participants are speculating whether Bitcoin can remain above $64,000, as the growing weakness in the largest cryptocurrency affects sentiment in the digital asset market.
If Bitcoin stabilizes, buying interest may return to several altcoins, including OTHERS.
Conversely, further weakness in Bitcoin would add pressure on support levels that are already being tested.
This makes Bitcoin price movements an important external factor along with what is happening around ENA’s large wallet transfers.
Athena continues to maintain strong protocol performance, with approximately $3.992 billion in total closed value (TVL).
Although TVL shows the amount of money allocated to the protocol, traders are currently focusing more on price levels, exchange rates, trading volume, and general market conditions when evaluating ENA’s next move.
At the moment, attention is focused on three developments: if the support of $ 0.085 will hold, whether the transfer of the 290 million wallet of ENA will eventually lead to exchange rates, and if Bitcoin can provide enough market stability to support the recovery.
