ENJ sees 40.5% volatility in 24 hours: Short squeeze drives price up to $0.085 before rapid pullback
Bitget Pulse2026/04/17 23:37Volatility Brief
ENJ's price surged from a low of $0.06076 to a high of $0.08534 within the past 24 hours before retreating to the current $0.06076, with a 40.5% amplitude. Trading volume exploded to over $339 million, with open interest (OI) soaring 48%-93%, and 24-hour liquidation amounts reaching approximately $5.89 million.
Brief Analysis of Unusual Movements
- Short Squeeze Dominates: Negative funding rates (-0.01% to -0.035%) triggered short liquidations totaling over $5 million, pushing the price rapidly up from near $0.046.
- Surge in Trading Volume and Open Interest: 24-hour spot/contract transaction volume peaked at $167 million, with about $77.6 million in USDT inflows, indicating a rush of capital.
- Rotation in Game NFT Sector: On-chain data shows a revival in game NFTs, combined with cross-chain upgrades (such as Hyperbridge), attracting a rotation of capital.
Market Perspectives and Outlook
The prevailing sentiment in the community is optimistic, viewing the short squeeze as a signal for further gains. If the $0.068 support holds, targets are set at $0.085-$0.095. However, an RSI above 80-95 signals an overheated market, increasing the risk of a pullback. Analysts warn that if the $0.064 level is breached, a deeper correction to $0.056 may occur.
Note: This analysis is automatically generated by AI based on public data and on-chain monitoring, for informational reference only.Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Jensen Huang's sudden resignation shrouded in suspicion: Did the White House secretly intervene? Is a return possible in the future?
Only a few days separated Jensen Huang’s strong support from the board last Sunday and his late-night resignation on Wednesday. Multiple reports of the Wednesday night Nvidia board meeting were co-authored by Washington-based journalists—who do not typically cover Nvidia—fueling rumors of "White House pressure and information leaks." Huang’s unique value lies in leveraging his personal reputation to secure the supply chain and drive the implementation of technological roadmaps, making him difficult to replace. Some analysts note that, drawing on examples such as Steve Jobs’ return to Apple, it is possible that Huang may come back in the future.
Gold recovers from YTD low, retakes $3,900; Fed hike bets and bullish USD to cap gains
Cerebras (CBRS.US) Cloud Business Soars, Masking Hardware Decline; OpenAI Supports Half of Cloud Revenue
Cerebras achieved record Q3 revenue, but hardware income dropped by nearly 30%, while cloud business accounted for two-thirds of total revenue. OpenAI contributed $72.4 million. The company raised its full-year guidance and expects Q4 to be close to breakeven.
Crypto prices
More
