$BTC Ethena (ENA) has recently experienced a significant bullish movement, with its price surging over 18% after forming a classic double bottom pattern—a strong technical indicator suggesting a potential trend reversal. This upward momentum is further supported by a notable increase in trading volume, which jumped by nearly 25%, signaling growing investor interest.

However, the upcoming release of 171.88 million ENA tokens, valued at approximately $49.52 million and accounting for 3.1% of ENA's circulating supply, could introduce volatility. Such token unlocks often lead to increased liquidity, which, if not met with proportional demand.

Despite this potential headwind, market sentiment remains optimistic. Analysts predict that if the bullish trend continues, ENA could reach between $0.69 and $1.04 by the end of 2025. Currently, ENA is trading at approximately $0.378, reflecting a 22% increase over the past 24 hours.

Ethena (ENA)

$0.38

+$0.07(+22.42%)Today