Ethena (ENA)

In the daily chart, the ENA price action shows a consolidation range between $0.20 and $0.37. Further, the underlying shift in sentiments teases an inverted head and shoulder pattern with a neckline at $0.37.

Currently, the pullback phase teases a right shoulder formation as it hangs near the 50D EMA. Based on the price action, the neckline breakout will result in a price jump to the $0.50 psychological mark. Optimistically, an uptrend amid market recovery will put the $0.70 and $0.85 levels on the target list. $ENA