Ethena Price Surge: ENA Targets $0.85 Breakout After Defending Critical Support

Ethena's ENA token flexes resilience as it bounces from make-or-break territory.

Technical Breakout Imminent

Chart patterns suggest ENA is coiling for a significant move upward. The token defended its key support level with conviction—now bulls eye the $0.85 resistance zone. Breaking this barrier could trigger accelerated momentum.

Market Psychology Shift

Traders are watching volume indicators closely. Sustained buying pressure at current levels signals growing confidence in ENA's underlying value proposition. The cryptocurrency continues to outperform despite broader market uncertainty.

Institutional Interest Grows

Whale accumulation patterns and derivatives data point to sophisticated money positioning for the next leg up. Unlike traditional finance where bankers would still be debating whether crypto is 'real,' digital asset markets move at lightning speed.

All eyes on whether ENA can convert technical strength into a decisive breakout—potentially rewriting its price discovery chapter.

• ENA is testing the $0.60 support level, where buyers are stepping in to defend against further losses.
• RSI hovers around 53.20, suggesting neutral momentum, while MACD shows weakening bullish strength.
• Immediate resistance sits near $0.72, with the potential to rally toward $0.85 if bullish momentum strengthens.

Ethena (ENA) is on the way to its positive price trajectory, with a surge in its value despite the struggling market conditions. The ENA price over the last 24 hours is up by 3.79%, but over the last week it is down by 13.17%.

At the time of writing, ENA is trading at $0.6148 with a 24-hour trading volume of $451.56 million, down by 24.53% over the last 24 hours. The token has a market capitalization of $4.24 billion, which is up by 3.89%.

Source: CoinMarketCap

The general trend in the crypto market is turning to the positive side as BTC is struggling to catch bullish momentum. The overall market is impacted by this movement, including altcoins.

Ethena (ENA) Price Holds Above $0.60 With $0.85 in Sight

Moreover, a prominent crypto analyst, Ali, revealed that Ethena’s native token, ENA, is testing a crucial support level at $0.60, where buyers are stepping in to prevent further downside. Analysts note that maintaining this threshold could spark renewed bullish momentum. The first upside target sits near $0.72, a resistance zone closely watched by traders.

Source: X

If the momentum gains further strength, the relief bounce seen by ENA could reach $0.85, a level, which earlier indicated strong buying interest. Market sentiment remains cautious and optimistic as the larger crypto market stabilizes. But a failure to hold $0.60 support may attract new selling pressures and test lower levels.

Also Read: YZi Labs Boosts Ethena Labs as USDe Surges Past $13 Billion TVL

Ethena (ENA) Weekly Chart Signals Consolidation Ahead

The weekly Ethena (ENA) chart shows that the price is moving around a significant support. The Bollinger Bands suggest a mid-range area, and the price leans towards the center band at $0.507, which suggests support. Resistance is closer to $0.88, though, as the top band gets narrowed.

Source: TradingView

The RSI sits at 53.20, slightly above the neutrality mark, hinting at a lack of strong momentum in either direction. The MACD index shows diminishing bullish sentiment as the histogram narrows and signal lines converge. This pattern, as a general rule, points towards a consolidation scenario with a risk for a decline if support cannot hold unless the bulls regain their footing.

Ethena Investors Signal Strong Optimism for Future Gains

According to the data from CMC, community sentiment is extremely bullish, as a staggering 83% of the users exhibit a bullish sentiment. In 104K votes total, the vast majority share the opinion that the market is inevitably rising. This indicates strong confidence and Optimism amongst voters.

Source: CMC

On the other hand, 17% of the population exhibit a bearish sentiment, anticipating a decline. As a less significant share, it also reflects a persistent level of apprehension. Their perception establishes the reality of split opinion within widespread optimism.

Also Read: Ethena Price Analysis: ENA Ascending Triangle Targets $0.8566 Breakout