Ethena ($ENA ) has captured the crypto community's attention with a remarkable 26% price surge, rebounding from its key Fibonacci support zone at $0.87. This rally underscores strong investor confidence and bullish technical momentum, fueling projections for higher price targets at $1.32 and $1.72.

Key Highlights

  • 26% Price Jump: Ethena rebounds sharply from the $0.87 Fibonacci retracement zone (0.618 level), sparking increased buying pressure.

  • Targets Ahead: Analysts highlight $1.32 as the first critical resistance level, while $1.72 represents an optimistic long-term goal.

  • Volume Growth: Trading volume soared by 42.32% to $580.98M, indicating heightened activity and liquidity.

  • Ecosystem Expansion: Ethena’s total value locked (TVL) stands at $5.94B, reflecting robust ecosystem adoption.

  • Market Sentiment: Fear & Greed Index at 74 signals strong bullish sentiment.


ENA trading chart | source X

Ethena’s rally began at the $0.87 Fibonacci buy zone, a critical support level in technical analysis. The price rise has formed higher highs and lows, confirming the bullish trend. A period of consolidation with high trading volume further solidifies investor confidence.

Analyst Predictions

  • $1.32: This level serves as a pivotal resistance zone and a potential profit-taking point.

  • $1.72: Reaching this target would mark a 100% gain from the Fibonacci buy zone, signaling sustained bullish momentum.

While optimism prevails, pullbacks near resistance levels could test the market’s strength. However, as long as $0.87 remains a firm support, the rally is likely to continue.

Long-Term Outlook

Analysts forecast Ethena could reach $3.44 by February 2025, a potential 228.84% increase from its current price of $1.22. This projection aligns with growing ecosystem adoption and positive market sentiment.

Investor Watch

Short-term traders may take profits, causing temporary pullbacks. Traders should monitor volume trends and market conditions closely to capitalize on Ethena’s rally.

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