TL;DR
ENA gained 20% weekly, testing $0.85 resistance while support remains strong near $0.70.
Analysts point to buybacks and Binance’s USDe listing as catalysts for Ethena’s bullish momentum.
Targets range from $1.25 to $5.00 if ENA holds above $0.68 and momentum continues.
ENA Shows Strong Weekly Performance
Ethena (ENA) has posted a sharp rise in the past week, gaining over 20%. The token is now priced at $0.84, with a 24-hour trading volume of $1.44 billion. Daily gains stand at 9%.
Crypto analyst Altcoin Sherpa said the asset shows strong momentum, noting that while profit-taking may be considered near current levels, the mid-term trend remains positive.
“I still am holding my position and it’s probably ok to take some profit around here. With that said, I do think that this trades higher in the mid term,” he said.
Chart data shows ENA testing resistance near $0.85, which aligns with the 0 Fibonacci level. This has become an important short-term barrier, where some s
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