Ethena crypto ($ENA) just ripped past the $2 mark, notching a 200% climb since bottoming out at $0.67 in April. The last 24 hours alone brought a 15% surge.
Traders are watching closely now: with $2.45 resistance coming up fast, it’s either a breakout or a backslide.
This comes after Ethena unlocked 171.88 million ENA tokens on May 5, worth $53 million. That’s 3.1% of the circulating supply suddenly in play.
Ethena 2025 Roadmap: https://t.co/f0A7J7oo3X
— Ethena Labs (@ethena_labs) January 30, 2025
Ethena Crypto Technical Indicators Signal Optimism
After months locked in a descending trendline, ENA cracked resistance at $0.45, then punched up to $0.46 before cooling off. Technicals are on the bulls’ side: RSI’s holding above 50, and MACD just crossed into the positive.
The real test is whether $0.45 holds firm as a launchpad or folds under pressure.
At the core of Ethena’s system is USDe, a dollar-pegged stablecoin designed to operate without banks. ENA, the governance token, gives holders a direct say in how the protocol runs, from upgrades to policy decisions.
Ethena’s partnership with Hyperliquid has added more intrigue to the project, allowing users to bridge USDe to Hyperliquid’s HyperEVM. This strategic move, announced on May 5, has sparked a 36% price increase over the past week as it opens new token utility and ecosystem expansion opportunities.
Resistance Looms, But the Long-Term Trend is Bullish
99Bitcoin’s analysts are eyeing ENA’s $0.45 ceiling. If ENA can receive a decisive push higher, it could trigger a rally to $0.80. But failure here risks a pullback, with $0.33–$0.36 as the next line of defense.
. Altcoin summer 2025, pack your bags 😎.
Meanwhile, ENA’s price might face hurdles, but its innovative stablecoin project and financial tools have positioned it as a promising upstart in the crypto space.
Final Thoughts On Ethena Crypto
ENA’s rally has legs, but breaking above $0.45 will decide if it’s a breakout or a pause. Backed by growing USDe adoption and a recent partnership with Hyperliquid, the fundamentals are in place. Still, a pullback can’t be ruled out—momentum is strong, but fragile.
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Key Takeaways
- Ethena crypto ($ENA) just ripped past the $2 mark, notching a 200% climb since bottoming out at $0.67 in April
- Long-term Ethena’s continued development and strategic partnerships make it well-poised for altseason
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