🟢 $ENA – Silent Accumulation Before Next Leg?

$ENA is trading at $0.633 after cooling from last week’s top near $0.77. The 1h chart shows a bounce from $0.6145 with steady volume and bids slightly heavier than asks, suggesting quiet accumulation. Price is sitting just under the EMA25 at $0.6358, with EMA99 resistance at $0.6673. Holding above $0.615 keeps the short-term structure safe while a move through $0.667 could open the way back to the $0.71–$0.77 zone.

Fresh news is backing this setup. Ethena’s USDe has crossed $12B in market cap, now controlling over 4% of the stablecoin market, showing real adoption and liquidity flow. At the same time, Mega Matrix named ENA as the primary reserve in its new treasury strategy, giving institutional weight to ENA’s governance role.

Chart structure and fundamentals are lining up. USDe growth feeds directly into ENA demand, and the current consolidation looks more like positioning than weakness. A clean break over resistance could be the start of the next push.