• ENA price surged 6.30% to $0.3684, with a market cap of $1.18B.
  • Support is at $0.34, with a drop below leading to $0.32 or lower.

Ethena (ENA) is trading at $0.3684, marking a 6.30% increase in the last 24 hours. Its market cap has risen to $1.18 billion, maintaining the same percentage gain. However, the 24-hour trading volume has dropped 15.74% to $220.92 million. 

The fully diluted valuation (FDV) stands at $5.52 billion. The total value locked (TVL) in Ethena is $6.25 billion, with a market cap ratio of 0.1892. The circulating supply is 3.22 billion ENA, while the total supply is 15 billion ENA.

Will ENA Sustain its Bullish Momentum?

The Relative Strength Index (RSI) is 48.75, with its moving average at 41.13. This indicates weak momentum, but the price is recovering. If the RSI moves above 50, bullish strength could increase.

The Chaikin Money Flow (CMF) is -0.21, signaling weak buying pressure. This suggests that investors are still cautious despite the price recovery.

Is Ethena (ENA) Price Surge Sustainable or a Temporary Rebound? image 0

The 4-hour chart reveals strong resistance at $0.38. If ENA breaks this level, the price could push toward $0.42. The next resistance is near $0.45, which aligns with previous selling pressure zones.

Support sits at $0.34, with stronger demand near $0.32. If the price falls below this, a further downside toward $0.30 is possible. The moving average (MA) crossover suggests a neutral-to-bearish outlook. The short-term MA is below the long-term MA, showing weak upside momentum.

ENA’s price action shows recovery signs but remains at a key inflection point. Breaking $0.38 could lead to further upside, while losing $0.34 may bring more selling pressure. Traders should watch RSI movement and MA crossovers to gauge momentum shifts.

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