Ethena Price Eyes $1.30 Breakout as Whales Accumulate and Bullish

The Ethena price is currently giving mixed indicators throughout the crypto market. The token is at the moment trading at approximately $0.45 and the 24-hour trading volume is approximately $650 million. In certain trades, prices are a bit cheaper in a modest fall of approximately 6.5% during the past day.

Source: CoinMarketCap

This difference in data is explained by the fact that there is a difference between liquidities on different trading platforms. In general, the process of the price is reflected in the slight volatility of the overall crypto market, and the traders pay attention to whether a breakout of the recent stagnation will take place.

Ethena Price Shows Bullish Momentum Above Key Levels

The Ethena price chart is an indicator of optimism with caution. The token is trading around above 0.76, above the 20-day and 50-day exponential moving averages (EMAs) - an indicator it has the short-term positive momentum. These EMAs are observing as zones of support meaning that the buyers have continued to show interest in the market when it is dipping.

The resistance is high at approximately around 0.80; and the support is between 0.62 and 0.69. The chart patterns that have been formed over the last few days are an indication that the price has perhaps escaped a falling wedge pattern that is usually an indication of an upward direction. The development of a golden cross -where the average of the 50 days is travelling above the 200 days- is another sign that the market may keep on the good trend.

In case price continues rising above 0.75, then it might challenge the 0.80 resistance. But the inability to go above $0.69 may lead to a short-term fall to $0.62.

Basic advancements are still contributing to the price pattern. The parent organization (Ethena Labs) behind the project is spreading its footprint with its synthetic stablecoin, USDe, which is getting traction in the DeFi ecosystem.

Large holders or whales have been reported to accumulate millions of ENA tokens thus highly believing in the potential of the project. In the meantime, the buy-back programs and continuous ecosystem improvements of Labs assist in stabilizing the price of Ethena by lowering the supply in the market and enhancing the utility of the token.

Such developments coupled with an increase in adoption and the support offered by the community are positive signs to further upward pressure in price despite expansion of market uncertainties.

Ethena Price Forecast Points to Cautious Short-Term Gains

Considering the situation, the price perspective is optimistically cautious in the near future. It is expected that the analysts will trade between 0.65 and 0.80, but the average of the price is expected to be between 0.70 and 0.75.

When this gains momentum, the Ethena price may breach the level of 0.80 and target the resistance level of 0.90 to 0.95. Conversely, a fall in the mood of the market may push it down to the level of support of $0.62.

In general, it can be noted that the short-term trading will be moderately fluctuating, with a weak positive trend due to the increasing demand.

Irrespective of the positive news, the price is vulnerable to the larger crypto market dynamics. Any major decline of Bitcoin or Ethereum would affect the performance of ENA. The inability to overcome the level of $0.80 could cause short-term corrections.

The other risks are potential unlocks in the token which may cause selling pressure and other external events such as regulatory developments or the macroeconomic environment that may impact on investor sentiment.

Ethena Price Targets $1.30 After Breakout

Crypto analyst Ali_charts shared a bullish technical analysis on ($ENA), highlighting a confirmed higher high on the USDT perpetual chart that could push the price toward $1.30 from its recent peak near $0.52. The chart dated October 27 shows a breakout above previous resistance around $0.45, though the current price hovers near $0.46 as of October 29, reflecting short-term volatility likely linked to a token unlock earlier in October that released over $70 million in supply

Source: X

According to data from CryptoRank, Ethena’s vesting schedule includes monthly unlocks through 2026, totaling about 5% of total supply annually, a factor that studies from Chainalysis identify as a potential source of price suppression for altcoins during bullish market cycles.

Conclusion

The Ethena price has been drawing attention in the digital asset sector, and it is backed by solid fundamentals, whales buying, and good technical indications. As a major DeFi player and synthetic assets, Ethena has an opportunity to gain progressively in the short-term.

The current price can be estimated to be priced between 0.65 to 0.80 with an average of 0.70-0.75 as the most probable range of the price. A long-term movement of greater than zero hundred and eighty might indicate a bullish penetration whereas a drop of less than zero hundred and sixty nine might imply temporary weakness.

Investors are encouraged to be keen on Ethena price trends and keep abreast with the market trends before they can make decisions regarding trading.