Ethena (ENA) breaks bullish flag on 4-hour chart, projecting a move toward $1.50.
USDe supply nears $10B, supported by major DeFi integrations, maintaining strong yield potential.
Daily $5M ENA purchases sustain buy-side pressure, bolstering bullish momentum.
Ethena (ENA) has confirmed a breakout from a bullish flag formation, setting its sights on a $1.50 target as favorable technical patterns and robust fundamentals align in the current crypto market environment.
Bullish Flag Breakout Positions ENA for Upside
On the 4-hour time frame, ENA price action was squeezed between converging trendlines following a sharp impulse to the upside. The escape out of this tendency involves the measured move projection to the $1.50 with the support of the 1.618 Fibonacci extension. Such technical position shows that there will be a bull phase after long-term accumulation.
The weekly structure shows the broader uptrend remains intact. The key technical milestone ahead is flipping the immediate resistance zone. A confirmed hold above this area could open the path to retesting previous highs and potentially setting new ones.
Market Conditions Support Altcoin Strength
According to market observations shared by Ali (@ali_charts), BTC dominance has broken down, shifting liquidity into altcoins. In this environment, ENA stands out due to its strong positioning in the stablecoin sector, currently the most adopted vertical in crypto with strong institutional backing.
The ETH treasury bid continues to provide sustained market support. This buying activity has been consistent and is expected to remain a driving factor for price stability and upward momentum in ENA’s market performance.
Fundamentals Bolstered by USDe Growth and Daily Buys
USDe supply is approaching $10B after key integrations with platforms such as AAVE, enabling sustained high yields and continued adoption. This growth reinforces ENA’s role in the expanding DeFi ecosystem, strengthening investor confidence.
A major price driver is the Ethena DAT company’s daily purchase of $5M worth of ENA. This continued buy-side pressure, in addition to the greater speculative interest has led to a positive supply-demand imbalance. Consequently, ENA continues to rank as one of the high-growth assets in the ongoing crypto boom.
