Ethena crypto price has corrected into a key support zone at $0.61, where confluence with the value area high and the 0.618 Fibonacci retracement has reinforced bullish structure. Accumulation at this level signals potential upside.
Summary
- Ethena (ENA) holds strong at $0.61, supported by Fibonacci and value area high.
- Accumulation suggests upside potential toward $0.96 and $1.33.
- Breakout requires confirmation through strong bullish volume influxes.
Ethena (ENA) price action has settled at $0.61, a crucial technical level combining high-turnover support, the value area high, and the 0.618 Fibonacci retracement. Multiple failed breakdown attempts suggest strong demand, positioning Ethena for a possible rally toward $0.96 and eventually $1.33. Ethena Labs has partnered with FalconX, a digital asset prime broker, to drive greater institutional adoption of its synthetic dollar, USDe, adding a fundamental tailwind to the bullish technical setup.
Ethena price key technical points
- Critical Support: $0.61 aligns with the 0.618 Fibonacci retracement and value area high.
- Accumulation Signs: Multiple failed daily closes below $0.61 highlight strong buyer demand.
- Upside Targets: Resistance levels sit at $0.96 and $1.33, with potential for higher expansion.
The correction into $0.61 has highlighted its significance as a high-turnover support zone. Technical confluence between the Fibonacci retracement and the value area high strengthens its role as a structural base. Despite repeated attempts to push price lower, daily closes consistently remain above this level, signaling that demand is outweighing supply.
This repeated defense of support suggests accumulation is occurring. Market participants appear to be building positions at $0.61 in anticipation of an upward expansion. In auction theory terms, the region represents a zone of balance, where accumulation often precedes directional breakouts. The persistence of higher lows further reinforces that the prevailing structure remains bullish.
Upside targets are clearly defined. The first significant resistance is situated at $0.96, a level with historical significance in capping rallies. A break above this zone would not only confirm bullish continuation but also open the pathway toward $1.33. This upper resistance coincides with a higher timeframe extension objective, giving the move additional technical weight.
Volume remains the final confirming factor. Currently, the profile shows a decline in activity during this consolidation phase, which is common in accumulation. For any breakout to materialize and sustain, inflows of bullish volume will be necessary. Strong demand surges will validate the continuation and fuel momentum toward higher resistance levels.
What to expect in the coming price action
As long as $0.61 holds, ENA is well-positioned for continuation to the upside. A move toward $0.96 appears probable, with potential for expansion into $1.33 if volume confirms the breakout.
