Ethena [ENA] soars 19% – But this could be a bull trap IF…

ENA’s rally is backed by strong inflows but hidden liquidity risks could flip momentum fast.

ENA’s 19.6% surge came with a $244 million Open Interest jump and bullish spot inflows. However, liquidity clusters below price leave overleveraged longs vulnerable to reversals, raising the risk of a sudden bull trap.

Ethena [ENA] outperformed most of the market over the past 24 hours, climbing 19.6% to $0.7363 and ranking as the second-largest gainer, per CoinMarketCap data at press time.

Liquidity inflow hints at a rally being close, and that the altcoin could multiply its gains soon.

However, AMBCrypto’s analysis found this could also be a bull trap, with buyers at this level at risk of significant losses.