Ethena (ENA) surged 11.35% to $0.09702 in the past 24 hours, signaling a potential recovery after a prolonged decline. The cryptocurrency rebounded from below $0.09, a key demand zone, but faced resistance near the $0.10 level, a historical supply zone. Despite the rally, the broader trend remains weak, lacking strong continuation signals. The positive shift in Ethena's OI-Weighted Funding Rate to 0.0095% indicates growing bullish sentiment in derivatives markets, as long traders begin paying to maintain positions. However, the funding rate remains moderate, suggesting that the market is not yet overcrowded with long positions. Meanwhile, persistent outflows, with netflows at -$384.87K, have eased sell-side pressure by reducing exchange-held liquidity, supporting the recent price rebound.