Ethena $ENA Ignites Market Bounce as DeFi Confidence Grows
ENA Surges: Ethena led major crypto gainers on Monday, bouncing 24% from $0.51 to $0.63, now holding support around $0.60.
DeFi Strength: Ethena’s DeFi ecosystem continues to show strong growth, with TVL soaring to $9.53B, up from $4.72B in May.
USDe Stablecoin Climbs: Ethena’s USDe becomes the 3rd-largest stablecoin by market cap ($9.23B), surpassing FSUSD, with 75% growth in 30 days.
Investor Confidence: Futures Open Interest rebounded above $1B, reflecting renewed trader optimism after a dip to $916M.
Technical Outlook: ENA trades above key EMAs (50D at $0.57, 100D at $0.53, 200D at $0.46). Holding $0.60 may signal a push toward resistance at $0.70, $0.75, and $1.00.
RSI Watch: A rising RSI could signal continued bullish momentum, while a drop may indicate weakening buying pressure.
📈 Ethena’s rally is being driven by solid fundamentals, strong DeFi growth, and growing retail interest — keeping bulls hopeful for higher targets.