Ethena (ENA) Skyrockets 150% in 30 Days—$10B TVL and Golden Cross Signal Mega Rally Ahead

Ethena’s ENA isn’t just climbing—it’s mooning. A 150% price explosion in a month, fueled by a $10B total value locked (TVL) milestone and a bullish golden cross, has traders scrambling.

The Golden Cross Effect

When the 50-day moving average slices above the 200-day, even Wall Street dinosaurs pay attention. ENA’s chart just flashed this classic buy signal—right as institutional money starts nibbling.

TVL: The $10B Proof

That jaw-dropping TVL figure isn’t vanity metrics. It’s cold, hard evidence that DeFi’s yield-hungry masses are betting big on Ethena’s infrastructure. (Cue the ‘this time it’s different’ chorus.)

The Cynic’s Corner

Sure, the charts look pretty—until the next ‘degen’ overleverages and triggers a cascade. But for now? Ride the wave. Just remember: in crypto, ‘fundamentals’ are what you print after the crash.

Ethena (ENA)’s Golden Cross Signals Strong Bullish Momentum

Technically, ENA’s breakout has been supported by a golden cross, the 50-day Exponential Moving Average crossing above the 200-day EMA, a classic bullish indicator.

The token’s RSI is NEAR 74, suggesting strong momentum without extreme overbought conditions, while the MACD has confirmed a bullish crossover.

On August 10, ENA surged 14.7% from $0.64 to $0.81, breaking a bullish flag pattern and pushing toward today’s high near $0.85.

Immediate resistance sits at $0.8741 and the psychological $1.00 level. A decisive break above $1 could trigger a run toward $1.25 and potentially $1.50, according to analysts.

However, $29.8M in ENA moved to exchanges between August 9–10, which could spark short-term volatility. Key downside supports lie at $0.70, $0.56, and $0.47.

The USDe stablecoin is now supported across 23 blockchains via LayerZero, processing over $743M in cross-chain volume last week alone.

Ethena’s expanding ecosystem, combined with strong derivatives market activity, futures volume surged 41.84% to $4.35B, points to sustained market interest.

Whale accumulation has been particularly notable, with large holders increasing their stakes by over 30% in the past week. Analysts say these moves, along with the pending activation of Ethena’s “fee switch” to reward ENA holders, could significantly enhance token value.

Provided that bullish momentum continues, Ethena’s robust technical performance, notable on-chain expansion, and increasing institutional engagement collectively position it as one of the top DeFi tokens.

Cover image from Unsplash, ENAUSD chart from Tradingview