Ethena's value maintains a floor at $0.67, aiming for a recovery to $0.96.
Ethena (ENA) Holds Strong as Bullish Trend Continues
Ethena (ENA) is currently experiencing a strong technical support at approximately $0.67, acting as a solid foundation for potential further upside. This support zone, ranging from $0.65 to $0.68, is a significant demand level where buyers are expected to intervene. A sustained dip below this could potentially invalidate the bullish outlook and push ENA lower towards about $0.60.
Recent bullish signals, such as a golden cross where the 50-day EMA crossed above the 200-day EMA, suggest an ongoing strong uptrend. The token has surged over 140% in the past month, trading near $0.70 as of August 2025. Momentum indicators like RSI and MACD support bullish continuation towards targets around $0.90 to $1.00.
Prices have recently broken resistance near $0.62 and $0.70, aiming next for $0.85 to $0.96 and potentially above $1.00 if momentum persists. It's worth noting that $0.96 could act as a potential resistance, given that it is also a prior swing high.
Accumulation, a key distinction that often precedes further rallies, is taking place in the ENA market. The current influx of trading activity on the volume profile suggests active participation from buyers around the $0.67 region. This volume expansion during a corrective move indicates accumulation rather than distribution.
The broader technical picture supports a bullish outlook for ENA, provided it maintains structural integrity above $0.67. Some forecasts predict a short dip towards $0.50 within days, reflecting market volatility and profit-taking risk, but overall sentiment remains bullish with a recovery expected beyond that.
Monitoring the $0.65 zone is critical, since failure to hold this support could trigger a pullback. Investor attention and buyback initiatives appear to underpin renewed confidence in ETHENA through late 2025.
Large token unlocks beginning August 2025 (around 171M tokens) could introduce selling pressure, but have not significantly impacted price strength so far. RSI near 69 indicates room to grow before overbought conditions, while MACD and volume trends support bullish continuation.
A decisive close above $0.96 would confirm a continuation of the current bullish projection for ENA. However, it's essential to keep a close eye on market developments and adjust strategies accordingly.
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