Ethena (ENA) has skyrocketed 133% in the last 25 days, touching a high of $0.5367 and lighting up the altcoin charts. With a massive $1.68 billion in 24-hour volume and a $3.39 billion market cap, ENA is grabbing serious attention.
The altcoin recently smashed through resistance levels at $0.36 and $0.47, confirming a breakout from previous consolidation zones. The rally appears backed by strong volume spikes, hinting at large-scale trader or institutional interest.
From a technical standpoint, ENA’s Relative Strength Index (RSI) stands at 74.80 — a signal that the token might be overbought and due for a cooldown. Yet, the MACD indicator remains bullish, with the MACD line comfortably above the signal line.
Analysts are watching resistance at $0.695 and $0.805 if momentum continues. On the flip side, key support sits at $0.47 and $0.36 in case of a pullback.
While the rally looks promising, traders should watch for short-term volatility and overbought corrections. As always, risk management remains key in altcoin cycles.
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