Ethena crypto ($ENA) has surged past the $2 threshold, achieving a dramatic 200% increase since its low of $0.67 in April, with a 15% rise in the last 24 hours. Traders are closely monitoring the situation as it approaches resistance at $2.45, marking a potential turning point.

On May 5, Ethena unlocked 171.88 million ENA tokens, valued at $53 million, representing 3.1% of its circulating supply.

Ethena 2025 Roadmap: Link
— Ethena Labs (@ethena_labs) January 30, 2025

Ethena Crypto Technical Indicators Signal Optimism

After being in a downward trend for months, ENA has managed to break through the $0.45 resistance, climbing to $0.46 before it settled. Technical indicators support a bullish sentiment, with RSI above 50 and MACD now in the positive territory.

Resistance Looms, But the Long-Term Trend is Bullish

Analysts from 99Bitcoin are targeting ENA’s ceiling at $0.45. If a strong push is achieved, it could propel prices up to $0.80. Conversely, a failure could result in a correction with the next support around $0.33–$0.36.

Final Thoughts On Ethena Crypto

The ongoing rally of ENA hinges on breaking the $0.45 barrier. Supported by increasing adoption of USDe and a recent partnership with Hyperliquid, the prospects seem bright, although the possibility of a pullback exists amid fragile momentum.