Ethena's Price Surges 80% After 200% Rise Potential

Ethena has been preparing for a significant move over the past several months, and the latest surge has helped the token achieve its target. The Total Value Locked (TVL) has spiked heavily since the last trading day, while the price has also held strongly above the gains. This indicates that the range around $0.42 to $0.44 has become a strong support range with potential for a significant pump.

The ENA price reached its peak at the start of the year. When the price was expected to rise above the current highs close to $1.5, it faced an 80% pullback, forming lows around $0.255. However, the latest rebound, which came after a prolonged consolidation between $0.35 and $0.25, hints at the resurgence of bullish dominance over the token. Moreover, the token is about to repeat the previous pattern and hence displays the possibility of a 200% rise in the next few months.

During the previous breakout, the price formed an inverse head and shoulder pattern and broke above the neckline. Currently, the price has broken above the falling wedge and is experiencing a small retest following the breakout. The Moving Average Convergence Divergence (MACD) shows a rise in the buying volume while the levels have just entered the positive range for the first time since the start of the year. This suggests that a major price action could be fast approaching.

The price has risen above the 50-day Moving Average (MA) ever since Ethena broke above the pattern, suggesting the token has entered a bullish range. With the technicians in place, the price is expected to maintain a healthy ascending trend, forming consecutive higher highs and lows to reach the resistance zone between $0.52 and $0.54. Once the ENA price rises above the range, the possibility of a Golden Cross could be higher.

Hence, the Ethena price is displaying huge bullish momentum and is believed to maintain a healthy upswing beyond $1 by the end of Q2, 2025. The Ethena (ENA) price has been displaying significant bullish momentum, with analysts predicting a potential tenfold increase from its current levels. This optimistic outlook is driven by several factors, including the cryptocurrency's recent performance and broader market trends. According to the analysis, Ethena is expected to maintain a healthy upswing beyond $1 by the end of the second quarter of 2025. This projection is based on the current bullish momentum and the overall positive sentiment surrounding the cryptocurrency market.

The bullish momentum in the cryptocurrency market is not limited to Ethena. Ethereum, for instance, has recently broken through key resistance levels, surpassing its 200-day Exponential Moving Average (EMA) of $2,436. This level is considered a crucial long-term support, and Ethereum is now testing the 50% Fibonacci retracement level close to $2,700. This movement indicates a strong upward trend for Ethereum, which could potentially influence other cryptocurrencies, including Ethena.

The positive outlook for Ethena is also supported by the broader market trends. The cryptocurrency market has been experiencing a surge in interest and investment, with various cryptocurrencies showing significant gains. This increased interest and investment could provide a favorable environment for Ethena to achieve its projected tenfold increase. However, it is important to note that the cryptocurrency market is highly volatile, and there are no guarantees that Ethena will reach its projected price target.

In conclusion, the Ethena (ENA) price is displaying significant bullish momentum, with analysts predicting a potential tenfold increase from its current levels. This optimistic outlook is driven by several factors, including the cryptocurrency's recent performance and broader market trends. However, it is important to note that the cryptocurrency market is highly volatile, and there are no guarantees that Ethena will reach its projected price target. Investors should exercise caution and conduct thorough research before making any investment decisions.