Ethena’s (ENA) Tight Range Ending — Price Breakout Could Be Imminent

Key Takeaways

• Ethena (ENA) broke down from an ascending support trend line.
• The ENA price is attempting to reclaim the $0.41 support area.
• If successful, how long can ENA sustain its upward momentum?
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Ethena plunged shortly after its debut in April 2024 but staged a comeback to close the year, nearly reaching a new all-time high in December.

However, 2025 flipped the script, leading to a sharp downward trend that nearly took the ENA price to a new all-time low.

The decline has slowed down in February and March, creating optimism for a potential trend reversal before ENA falls to a new all-time low.

Let’s analyze some charts and see what scenario is more probably in April.

ENA Price Attempts Reclaim

The daily time frame analysis shows that Ethena lost 75% of its value after the cycle high of $1.33 in December 2024, leading to a low of $0.33.

ENA also broke down from an ascending support trend line that existed for nearly a year and fell below the $0.41 horizontal support area.

While these are both bearish signs, Ethena’s price is trying to reclaim the horizontal support, invalidating the previous breakdown.

Technical indicators support this short-term increase. The Moving Average Convergence/Divergence (MACD) and Relative Strength Index (RSI) have created bullish divergences (orange).

On top of this, the RSI just crossed 50 while the MACD has nearly moved into positive territory.

As a result, the daily time frame predicts an ENA price bounce, possibly validating the previous support trend line as resistance.

Will ENA Break Out?

The shorter-term six-hour chart shows that ENA is attempting to break out from a short-term descending resistance trend line that has existed for most of the year.

During this time, Ethena’s downtrend has slowed considerably compared to the start of the year.

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Furthermore, the ENA price has created successive higher lows (green icons) in March, which could mark the beginning of an upward movement.

A breakout from the trend line will confirm this reversal, something with the RSI and MACD support with their upward trends.

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If ENA breaks out, it could increase over 60% to $0.68-$0.72, reaching a horizontal and Fibonacci resistance area.

Bullish April Ahead

The ENA price slowed its downward trend in February, only creating slightly lower lows. In March, the Ethena price created successive higher lows.

Ethena has nearly reclaimed the $0.41 horizontal area and attempts to break out from a short-term descending resistance trend line.

A successful breakout could lead to significant ENA gains in April, taking the price toward the $0.68-$0.72 resistance area.