Quick analysis of token $ENA (Ethena) – 5/12/2025
Technical model: Chart forming a double bottom in the range of 0.20-0.25 USD, bullish reversal signal. The price is currently retesting the neckline ~0.28-0.29 USD, short-term MA is bullish, RSI ~43 still has room for increase.
Support/Resistance:
🔸Support: 0.28 USD, 0.25 USD, 0.20 USD
🔸Resistance: 0.35-0.40 USD, 0.45-0.50 USD, 0.82 USD
On-chain data & market:
🔸Current price ~0.29 USD, market cap 2.18B USD, high volume (~338M USD/24h).
🔸Unlock 50.4M ENA on 2/12 creates short-term selling pressure, but whale accumulation is still active.
🔸Short-term sentiment is neutral-bearish, long-term bullish if the crypto market remains positive.
Trend forecast:
🔸Short-term (1-2 weeks): 0.35-0.40 USD (increase 20-35%), risk of testing 0.25 USD if selling pressure.
🔸Medium-term (December 2025): 0.45-0.50 USD if breakout, risk of decreasing to 0.21 USD.
🔸Long-term (2026+): 2.00-3.00 USD if stablecoin adoption and DeFi are strong.
Monitor volume, next unlock news, and BTC volatility.
