Ethena Defies Market Pressure: $0.67 Support Holds Strong as $0.96 Rally Looms

Ethena's price refuses to buckle—defending the $0.67 support level like a crypto gladiator. Now, traders are eyeing a potential 43% surge toward $0.96.

Bullish momentum builds as the token shakes off bearish sentiment. Technicals suggest the rally could mirror Q2's explosive altcoin runs—assuming Bitcoin doesn't decide to crash the party.

Of course, in crypto, 'support levels' are just collective hallucinations until they're not. Just ask the 'stablecoin maximalists' from 2021.

Key Ethena price technical points

• Strong Support at $0.67: Confluence of Bollinger Bands midpoint and 0.618 Fibonacci retracement.
• Bullish Market Structure: Consecutive higher highs and higher lows remain intact.
• Resistance at $0.96: Breaching the swing high would confirm continuation toward upside targets.

From a structural perspective, ENA continues to respect its bullish trend despite the short-term corrective move. The $0.67 support level has emerged as the most critical zone, not only because of the Fibonacci alignment but also due to the Bollinger Bands midpoint. Historically, this zone has provided solid footing for trend continuations, and holding it will confirm the establishment of another higher low in ENA’s bullish trajectory.

Market structure is often the most important factor when evaluating sustainability in bullish conditions, and ENA has continued to post consecutive higher highs and higher lows. This indicates that demand remains strong and that the correction should be viewed as a consolidation phase within an ongoing bullish cycle.

If the $0.67 level holds, ENA has the potential to retest immediate resistance at $0.96, which coincides with the prior swing high. Breaking through this level WOULD signify bullish continuation and strengthen the case for higher targets in the medium term.

Volume data also reinforces the bullish bias. The current influx of trading activity on the volume profile highlights active participation from buyers around the $0.67 region. This kind of volume expansion during a corrective MOVE suggests accumulation rather than distribution, a key distinction that often precedes further rallies.

The broader technical picture supports a bullish outlook, provided ENA maintains structural integrity above $0.67. A decisive close above $0.96 will confirm a continuation of the current bullish projection and open the path toward higher price targets.

What to expect in the coming price action

ENA remains bullish as long as the $0.67 support holds. If confirmed, this support will provide the base for a rally into $0.96, with volume strength acting as confirmation for continuation higher.