Ethena (ENA) Price Prediction 2025: Will It Smash Past $1.31 This Time?

Ethena's ENA token is back in the spotlight—but can lightning strike twice?

After its last bull run, traders are watching for signs of another breakout. The $1.31 price point looms like a finish line, but the crypto track is littered with 'sure things' that flopped harder than a DeFi rug pull.

Key factors driving speculation:

- Market sentiment swinging like a meme coin's Twitter feed

- Institutional interest (or lack thereof—Wall Street still treats crypto like a rebellious stepchild)

- That elusive combo of utility and hype that makes or breaks altcoins

Will ENA defy the skeptics? Or join the graveyard of 'next big things'? One thing's certain: in crypto, today's moonshot is tomorrow's cautionary tale.

• Ethena gains 25.64% weekly, defying broader market neutrality.
• Price consolidates between $0.44 and $0.48 after sharp resistance near $0.60.
• Open interest drops as the funding rate flips negative, suggesting de-risking.

Ethena (ENA) is showing strong performance, gaining steadily even though the overall crypto market remains mostly flat and neutral. The asset has accumulated approximately 2.56% gains in the last 24 hours, bringing its seven-day cumulative gains to a staggering 25.64%.

This upward trend reveals that investor sentiments remain robust despite patchy corrections. At press time, the token is trading at $0.4790. 24-hour trading volume has gained 53.65% to hit $950.45 million.

The project’s market capitalization also gained ground to hit $3.04 billion. The intersection of higher volume and price action is indicative of further market interest.

ENA Technical Structure Signals Healthy Correction

According to crypto analyst Ali (@ali_charts), Ethena’s recent action portrays a simple technical tale: a strong breakout followed by rapid rejection along with a consolidation pattern.

The coin experienced an initial breakout from $0.41 to $0.58, afterwards hitting strong resistance NEAR $0.60. A sudden reversal dropped it to $0.44, but it now trades between $0.44 and $0.48, indicating indecision or buildup for its next move.

The token’s daily chart shows a price that is moving around $0.4710 after a big 7.37% retracement. This retraction now tests the 0.618 Fibonacci retracement level near $0.4380, a previously strong support area in uptrends.

A reversal from here could send the token back up to $0.5401, with further resistance on a retest back up to $0.6660 and then to $0.8630. If that trend continues, a retest of a top near $1.31 is a longer-term possibility.

Open Interest Drop Suggests Profit Taking

Activity in the token remains robust. Trading volume jumped 39.43% to $2.71 billion, reflecting vigorous participation by traders.

Open interest has gone down by 5.97% to $799.99 million, reflecting a jump in position closures that is generally a telltale of profit-taking or risk reduction.

Additionally, the OI-weighted funding rate has reversed to negative levels of -0.0145%. This phenomenon of short sellers paying longs can be indicative of a break or a reset of bullish momentum.

The recent decline in prices is seen to be aligned with the funding switch, indicating a cooling-off period following a period of brisk speculative action.

Ethena’s market structure also means that the coin is in constructive consolidation. Though there have been some bearish signals in the near-term time frame, the broader trend remains solid.

If key support levels stay firmly in place, the token potentially might be due for yet another upleg if the market retakes the level of $0.50 with good volume conviction.