ENA jumped nearly 70% since May 7, hitting $0.45 before dropping.
Analyst sees bullish double bottom forming; predicts $0.90–$1 by Q3.
Over $100M in ENA is being accumulated on Binance, showing demand.
The Ethena (ENA) token made headlines this week, with whale activity and a sharp market recovery pushing its price higher. Since May 7, ENA has delivered an impressive rally of nearly 70%, with a 25% surge in the past week alone, outperforming many altcoins. ENA hit a monthly high of $0.45 before reversing. It is now down by more than 12% and is trading at $0.37.
The token is still down 75% from its all-time high of $1.52, but a decisive break above key resistance levels could trigger a major rally.
Analyst AM Crypto recently shared an update on ENA. There is a double bottom pattern forming on the daily chart — a bullish signal. Since ENA has a high correlation with Ethereum, it’s expected to outperform ETH if the market rises.
Over $100 million worth of ENA is currently being accumulated on Binance, showing strong demand. Based on this, the analyst believes that a price of $0.90 to $1 by Q3 is a real possibility. The token’s …
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