Ticker: $ENA | Pair: ENA/USDT
๐ฏ TL;DR: ENA just pulled off one of the cleanest bullish breakouts of 2025 โ and the path to $1.00 is officially on the table.
๐ The Bearish Grind (Early 2025)
For months, ENA was trapped inside a descending parallel channel, locked in a pattern of lower highs and lower lows.
Every rally attempt? Slapped down at the upper boundary.
Momentum? Firmly with the bears.
Sentiment? Flat to negative.
Traders called it โdeath by a thousand rejectionsโ โ until late July changed everything.
๐ The Breakout That Changed the Game
In late July, bulls staged a decisive coup:
1. Price ripped above the channel resistance.
2. Textbook retest of the breakout zone.
3. Transitioned into a steep ascending channel โ a traderโs dream setup.
Next Stop: $0.90 resistance, followed by the psychological $1.00 milestone.
Bulls are eyeing that level not just for bragging rights โ but as a key liquidity magnet for breakout traders and profit-takers alike.
๐ง The Orange Demand Zone (Your GPS for the Next Move)
$0.70โ$0.72 = The demand zone born from this breakout.
If price dips here, expect buying pressure to flood in โ the perfect spot for a healthy pullback before the next leg higher.
๐ฅ Fundamental Fuel โ Why ENA Has Wind in Its Sails
ENA (Ethena) is not just pumping on technicals โ the fundamentals are stacking up:
USDe Expansion: More collateral integrations across major DeFi protocols.
Strategic Partnerships: Lending + derivatives platforms are now in play, boosting USDeโs utility.
Adoption Surge: Circulating USDe supply continues to climb โ a clear sign of market confidence.
Narrative Power: On-chain stable yields are hot right now, and ENA is riding that wave perfectly.
๐ง Key Technical Levels
Support: $0.70โ$0.72 (Orange Demand Zone)
Immediate Resistance: $0.90
Major Breakout Target: $1.00 โ expect fireworks if broken.
๐ก Trading Insight
A clean retest of the orange zone + bullish confirmation could be one of the best R:R entries this month. But remember โ nothing goes up in a straight line. Manage your risk.
๐ฌ Your Move:
Will ENA smash through $1 on this run, or will it need to catch its breath first?