Ethena is rising today: what traders are watching (January 13)

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Ethena Surges 13.07% Today

Highlights

Ethena Labs partnered with Safe Foundation, whose multisig smart account platform secures over $60 billion in digital assets, to integrate the USDe stablecoin.
USDe will be embedded into Safe Smart Accounts and multisig wallets, streamlining treasury management for DAOs, protocols, and institutional users already using Ethena products.
The collaboration enhances USDe's role as a key treasury component, supporting its wider adoption across the expanding Web3 ecosystem.

Institutional adoption in focus as Ethena partners with Safe Foundation

Ethena Labs has announced a strategic partnership with Safe Foundation, which manages a multisig smart account platform securing over $60 billion in digital assets. This collaboration will see Ethena's USDe stablecoin integrated to enhance usage within Safe Smart Accounts and multisig wallets. The initiative aims to facilitate greater institutional adoption and streamline treasury management for DAOs, protocols, and other institutional users already involved with Ethena products. The partnership further consolidates USDe's role as a treasury component in the expanding Web3 ecosystem.

Anton Kharitonov, expert at Traders Union, notes that ENA’s short-term price action is strong but remains overshadowed by clear long-term weakness. He points to the inability to retake the MA-200, and stresses that momentum indicators on daily charts are muted or conflicting. Kharitonov finds the recent surge unconvincing, especially with the MACD flashing a sell and daily RSI still below key thresholds. Fundamentals from the Safe Foundation partnership may support sentiment, but he warns these moves often fail to drive sustainable price rebounds in downtrends. "For now, I see ENA trapped in a relief rally with little evidence this will evolve into a meaningful trend reversal," Kharitonov says.

Viktoras Karapetjanc, expert at Traders Union, identifies clear opportunities in Ethena’s latest partnership with Safe Foundation. He believes the integration of USDe sets a positive precedent for institutional engagement and showcases the ecosystem’s ability to attract meaningful adoption. Karapetjanc sees strong potential for further growth if ENA consolidates above short-term resistances and capitalizes on expanding Web3 demand. "With bullish structure forming and institutional interest rising, I expect ENA to maintain upward momentum and present multiple setups for proactive investors," he says.

Bullish intraday cues offset by weak daily signals and mixed momentum

At $0.2431, ENA is trading above its MA-20 ($0.2239) and marginally above its MA-50 ($0.2397), but remains well below the MA-200 ($0.4444). This setup suggests short-term bullish momentum with medium-term resistance, while long-term downtrend pressure persists. Immediate dynamic support is seen near the Ichimoku kijun at $0.2273, and the MA-50 serves as the next resistance.

Daily momentum is marginally positive but mixed: MACD and ADX both indicate weak trend strength, with MACD giving a sell signal while ADX is neutral. RSI sits below 50 at 41.95, hinting there is no significant overbought pressure, while Stoch RSI and CCI on the daily chart are near neutral, but lower timeframes flag overbought conditions. Bull/Bear Power distinctly favors buyers intraday, as suggested by a BBP in buy territory — further supported by an up move of 13.07% today. There was minimal gap at the open (from $0.215 to $0.2139), and the price now sits near today’s high, reflecting high intraday volatility and notable strength toward the session’s close. Oscillators and momentum signals diverge — intraday action is upbeat and volatile, but daily trend signals lag and remain cautious.

Last time, analysts noted Ethena was trading just above short-term moving averages but remained well below the long-term average, as technical indicators such as mixed momentum and overbought signals signaled limited upside within a tight range. Intraday, the asset exhibited heightened volatility and selling pressure, with dynamic support and resistance found at the Ichimoku Kijun and the MA-50 respectively.

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

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