Ethena price prediction: Can bullish momentum last, after 16.3% daily gain?

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Ethena surges 16.3% as price jumps today

Highlights

Ethena’s protocol generated approximately $151 million in revenue last quarter as the number of token holders grew to nearly 83,800.
Whale activity included transfers totaling over $33 million ENA from exchanges to private wallets, signaling long-term accumulation and a potential supply decrease.
Despite these positive metrics, current accumulation volumes remain weak and a notable sentiment shift is required for substantial recovery.

Whale accumulation offsets tepid sentiment as holder base expands

Ethena’s protocol generated approximately $151 million in revenue last quarter, while the number of token holders grew to nearly 83,800. Whale activity, including significant transfers totaling over $33 million ENA from exchanges to private wallets, points to some long-term accumulation and a potential decrease in liquid market supply. Despite this, current accumulation volumes are weak, and a shift in sentiment would be required to trigger a substantial recovery.

Mixed momentum signals flag caution as price nears key resistance

Technically, ENA's nearest resistance is at the Kijun from Ichimoku (0.2887), with the MA-50 at 0.3484 as the next dynamic resistance. The MA-20 is immediate support. Momentum signals are mixed: the D1 MACD indicates a strong sell, ADX (36.85) points to a strong trend with a sell bias, while both D1 and W1 RSI levels (43.45 and 39.46) suggest weak momentum. Stoch RSI at 95.16 warns of near-term exhaustion, CCI on D1 is neutral, BBP remains positive, but the Awesome Oscillator does not confirm a clear direction. Price action shows high intraday volatility and strong upward movement, but divergences between momentum and oscillators indicate caution is warranted.

Sideways consolidation likely as breakout chances remain muted

In the short term, ENA is likely to trade within a typical volatility band between $0.2220 and $0.3330 relative to current levels. The probability of sustained upside is low (less than 20%), with the primary scenario calling for sideways consolidation inside this range. A bullish breakout requires firm moves above the Kijun and MA-50, while failure of the MA-20 could open the way to the $0.22 support zone.

Anton Kharitonov, expert at Traders Union, sees the short-term upside in Ethena (ENA) as limited despite the current bounce. He notes that price momentum is weak, and technical resistance remains strong above. While recent whale accumulation is notable, overall sentiment and volumes do not support a sustained rally for now. "Base case remains range trading between $0.2220 and $0.3330 — without a decisive breakout above $0.3484, caution is warranted."

Previously it was reported that Ethena (ENA) was trading below all major moving averages, with technical indicators such as the MACD, ADX, and daily RSI pointing to persistent bearish momentum and mild oversold conditions. Immediate resistance was identified near the Ichimoku Kijun while negative Bull/Bear Power and continued seller pressure, though intraday BBP suggested some buyer activity and a cautious outlook for short-term positioning.

Source of Data: ENA Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.