Ethena price prediction: Is the bottom in as ENA rebounds 7.03%?

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Ethena gains 7.03% to $0.1234 today

Highlights

Ethena's total value locked (TVL) surpassed $7 billion since the start of the year, reflecting continued protocol growth despite heavy price declines.
ENA prices are struggling at the 20-day EMA, and recent sizeable losses may indicate the asset has reached a potential bottom.
ENA trades at $0.1234, below all key moving averages, with strong sell signals from MACD and ADX and expected $0.1110–$0.1330 range for the next week.

Protocol expansion persists as price bases near key resistance

Ethena's total value locked (TVL) has grown to just over $7 billion since the start of the year, as reported by DefiLlama, indicating the continued expansion of the protocol despite significant price declines over the period. The protocol is currently struggling with resistance near its 20-day exponential moving average. Recent sizeable losses could suggest that ENA prices may have reached a bottom.

Resistance and weak momentum cap upside amid broad downtrend

Technically, ENA faces dynamic resistance at the Ichimoku Kijun near $0.1521, while support is found close to recent intraday lows and short-term moving averages. Momentum on the daily chart remains weak, as the MACD signals a strong sell, the ADX confirms a robust downtrend, and both the RSI and Commodity Channel Index reflect sustained seller control without extreme oversold readings. The Stochastic RSI is overbought, implying that recent upside could be temporary or subject to reversal. Bull/Bear Power underscores ongoing seller dominance, and the Awesome Oscillator is neutral, not confirming the current upward move.

Limited upside odds as volatility band favors sideways move

In the next five trading days, ENA is expected to move within a volatility band of $0.1110 – $0.1330 based on current price action and recent volatility. The likelihood of a sustained price increase is very low, with probabilities under 20%, making further declines or sideways action more probable. A sideways scenario within the defined range remains the base case. A bullish reversal would require a close above $0.1521, while a drop below $0.1200 could open the door to additional downside toward recent lows.

Anton Kharitonov, expert at Traders Union, sees ENA facing clear technical resistance and weak momentum indicators despite strong TVL growth. He believes the recent upside is likely temporary, with sellers firmly in control and further downside or sideways action most probable. The analyst notes that a sustained bullish move would require a close above $0.1521. "Base case is continued range trading with downside risk — I will remain defensive unless $0.1521 is reclaimed."

Previously it was reported that Ethena is trading well below key moving averages, with persistent downside pressure indicated by MACD, ADX, and oversold RSI and CCI readings, while resistance is defined by the Ichimoku Kijun and immediate support from moving averages remains absent. Despite minor intraday strength and signs of potential relief rallies, the technical outlook points to continued bearish momentum with likely sideways or lower trading in the near term.

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.