Ethena (ENA) has spent weeks doing the work that bull runs are actually built on, holding support, absorbing sell pressure, and slowly shifting the structure in favour of the buyers. A TD Sequential buy signal appeared on the weekly chart and was followed almost immediately by a 17% price rally. ENA is currently trading at $0.09121, up 4.36%.
Both the RSI and ChandeMo Oscillator are forming bullish divergences. That combination of price action still finding its footing while momentum indicators point higher is one of the more reliable early signals that selling pressure is fading and buying interest is building underneath.
The long-term descending trendline that had been suppressing ENA for months has now lost its grip. Rather than falling back below the breakout level, price has spent weeks building acceptance above the former trendline while repeatedly defending the newly established support zone.
Moreover, ENA is now consolidating inside a well-defined rectangle pattern, with buyers defending the lower boundary and price pressing to the upper resistance. Rectangle consolidations of this type precede explosive breakouts. The contraction in volatility is building pressure, and a decisive move above confirms that bulls are reclaiming control.
With a potential break above $0.0931, a strong candle opens the path to $0.0950, followed by $0.0985. This threshold can only be achieved by strong momentum without any rejection. Also, if momentum holds and buying interest sustains, $0.13 becomes ENA’s next major target.
If a pullback occurs, it could push the Ethena price toward $0.0860. Further downside invites the $0.0829 zone, before any renewed move higher. A close drop below $0.0812 with stronger bearish momentum could push the price toward $0.078 or lower.
The broader market structure is bullish, and the accumulation pattern is holding. At press time, Ethena needs the key support zone to hold one more time.
The Moving Average Convergence Divergence (MACD) and the signal lines show that the buying pressure is accelerating. Both lines above zero indicate ENA’s overall uptrend. The short-term price momentum is consistently higher than its long-term average.
The recent price surge is gaining speed. A healthy uptrend with buyers firmly in control, and the current momentum is pushing it further. It’s a favourable environment for holding long positions.
In addition, the ongoing market sentiment for Ethena is bullish as the daily Relative Strength Index (RSI) is at 70.67. The asset is inside overbought territory. Buyers have been driving the price higher with significant intensity over recent candles.
It doesn’t mean the price will crash immediately, but the odds of a short-term pullback are higher as traders take profits. It is appropriate to wait for a slight dip or for the value to pull back and reset before buying.
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