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Let’s analyze Ethena’s price action both technically and fundamentally 📈.
🔍Fundamental analysis:
Ethena’s USDe hit $10B market cap in 500 days, helped by U.S. rules limiting yield on other stablecoins. Institutional demand for its DeFi-based returns could lift ENA’s role and value. 💹
📊Technical analysis:
ENAUSDT is showing exceptional strength with strong volume, solid Fibonacci support, and a key daily trendline 📈. These technical factors suggest a potential 20% upside targeting $0.99 🚀.
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