ENA Hits 4-Month High as Ethena's DeFi Yields Soar—But Traders Eye Key Resistance Levels

Ethena’s governance token $ENA is making headlines with a powerful technical and fundamental setup. After climbing over 20% in a single day, ENA has hit its highest level in four months—driven by surging demand for its synthetic dollar protocol, USDe, and DeFi yields nearing 10% annually.

Technically, the token is flashing strong bullish signals. The MACD continues to widen, indicating growing momentum, while the RSI has entered overbought territory—often a hallmark of aggressive trend continuation. Short- and mid-term EMAs have aligned in a bullish pattern, confirming strong upward pressure.

However, the road ahead is not without resistance. A massive ask wall near $0.521 and weakening support zones highlight the potential for volatility. Traders are watching closely to see whether bulls can power through or if a pullback is on the horizon.

One thing is clear: ENA is back on the radar.

#ENA #ethena #TradingSignals

Read the full analysis: www.ecoinimist.com/2025/07/21/ena-hits-4-month-high-defi-yields-soar