$ENA

– Ethena’s $1 Milestone: Key Test for Stablecoin Growth

Hitting the $1.00 level is both a psychological and technical benchmark for Ethena (ENA), which is currently trading around $0.58—a move that would require roughly a 72% gain. From a technical perspective, ENA needs to break through several resistance zones between $0.78 and $0.90, which are key short-term reversal points and align with Fibonacci levels.

On the fundamental side, reaching $1 depends largely on growing adoption of its synthetic dollar, USDe, and its yield-bearing counterpart, sUSDe. Factors that could drive ENA upward include increased institutional partnerships (e.g., Coinbase/BlackRock), successful rollout of new products like the Converge blockchain, and sustained positive sentiment in the DeFi space. If these catalysts align, ENA could not only hit $1 but potentially reach a new all-time high above $1.52.

Do your own research (DYOR).