- Ethena (ENA) surged over 102% since breaking above the $0.44 resistance in early August.
- Current price is $0.8367, up 13.3% in 24 hours, with resistance at $0.8468.
- ENA experienced a 9.4% increase against Bitcoin and 10.9% improvement against Ethereum in the last rally.
Ethena (ENA) has been experiencing a robust bullish initiative, recording major profits in the recent weeks. The asset value has increased by more than 102% after breaking a crucial technical level, which indicates a severe buying momentum. The latest 24-hour stats have ENA trading at $0.8367, an increase of 13.3%. The period traded between a low of $0.7225 and a high of $0.8468, with the current price at the upper end of the range.
The price break above the resistance level of $0.44 in early August signaled a reversal of the trend in ENA. Since then, the asset has climbed aggressively, with a spread of 0.4310 points, representing 102.18%. The increase occurred along with the increase in the momentum against significant pairs, where it rose by 9.4% against Bitcoin at 0.056858 BTC and 10.9% against Ethereum at 0.0001946 ETH. The recent price movement indicates continued pricing above previous resistance with the previous ceiling becoming a confirmed support area at 0.7225.
Price Action and Technical Context
Charts indicate that ENA had traded within a downward channel for several months before this breakout. The decisive move out of that range pushed prices through multiple resistance levels, with the most significant being the long-term horizontal barrier around $0.44.
The market then extended higher, maintaining a steady climb. The most recent sessions show prices approaching the $0.8468 resistance, with price candles reflecting sustained buying interest. The projected short-term path, as suggested by recent trading patterns, shows potential consolidation above the support level before any further movement.
Market Position and Recent Performance
ENA’s recent upward swing also represents a secondary rally phase. The earlier gain, recorded on a previous breakout move, saw the price climb 96.43%, adding 0.2801 points in value. This rally brought ENA back into a higher trading range after prolonged consolidation.
The chart patterns display a consistent upward curve in recent weeks, indicating strong follow-through buying since early August. With the asset holding above $0.72 and pressing toward $0.85, market attention remains focused on whether it can sustain its elevated range.
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