ENA Price Hovers Near $0.34 as Traders Eye $0.45 Breakout for 150% Gain

Ethena (ENA) is currently at a pivotal point as traders closely monitor its price behavior around a key accumulation zone. Analysts have noted a potential breakout phase, which has drawn attention to the asset's risk-reward profile. Despite broader market volatility, ENA has shown signs of strength, maintaining bullish momentum above a critical support level.

ENA is trading above its long-standing support level at $0.27, which has supported several bounce-backs in recent months, forming an ascending trendline. The current price sits around $0.34, a level that some traders consider a prime accumulation zone. According to trader Crypto Patel, this range could offer an opportunity before a larger move unfolds. He emphasized that ENA has held its structure well, with the chart forming higher lows. The support trendline, marked in green, has remained intact through recent corrections.

Crypto Patel noted that a break above $0.45 could trigger rapid price expansion. The chart he shared outlines a projection path with successive targets: $0.68, $1.25, $2.60, and possibly $5. The sequence indicates growing momentum if resistance is cleared. The $0.45 mark acts as a key threshold for bullish continuation. If broken with strong volume, the market could react quickly. Previous consolidation phases suggest potential for swift moves, provided buyers sustain the push above resistance.

Despite a minor pullback, ENA recorded a 7.74% gain over the past week. The 24-hour trading volume exceeded $323 million, showing continued interest. However, the asset posted a 4.29% dip in the past 24 hours, reflecting short-term volatility. Such swings remain common in assets with smaller market caps and growing attention. This volatility is why traders are advised to assess risk before entering positions. The price levels highlighted by analysts are not guaranteed outcomes but markers for potential upside.

Crypto Patel stated that ENA’s structure presents a high-risk, high-reward scenario. With accumulation visible and key zones defined, speculative interest is rising. The targets shared rely on ENA sustaining momentum and clearing layered resistance levels. As the price hovers near $0.34, eyes remain on whether $0.45 breaks. If so, the move toward higher projected targets could accelerate, aligning with long-term bullish patterns visible on the chart.