Ethena ($ENA ) continues to show impressive dynamics, recording a 10% increase over the last 24 hours. At the time of publication, the token is trading at $0.85, returning to a key level that was previously lost under market pressure.
Analysts note that ENA completed the corrective structure WXYXZ near $0.20 back in September, after which it transitioned to a five-wave impulse that is now nearing the completion of wave (v).
- Support level: $0.72
- Key resistance: $0.86 — if ENA can overcome it, the path to $1.00+ will open.
- RSI: nearing the overbought zone, which may signal short-term consolidation.
Actions of major players
Interestingly, major investors (whales) continue to act actively: recently, 1.96 million ENA was withdrawn from Binance for a total of $1.63 million, which may indicate long-term faith in the asset.
$ENA is back in the game, and $0.85 is not just a number, but a psychological milestone. If the token can hold above this level, the market may see a new wave of growth.
