Will Ethena (ENA) Reach $0.50 as the Recovery Gains Strength?

Ethena (ENA) surged 15.32% in the last 24 hours, pushing its market cap over $1 billion and trading at $0.3887. With a 33.65% rise this week, investors are eyeing the $0.50 mark.

The bullish momentum is fueled by an inverted head-and-shoulders breakout and a potential golden crossover, indicating further gains. Technical indicators like the MACD also support this trend.

A key factor driving the surge is a proposal to add Solana (SOL) as a backing asset for USDe, boosting market confidence. If the trend holds, ENA could reach $0.50, though caution is advised with support levels at $0.3557 and $0.3196.

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