Analyst: ENA’s 20% Weekly Surge Is Only the Beginning

TL;DR ENA gained 20% weekly, testing $0.85 resistance while support remains strong near $0.70. Analysts point to buybacks and Binance’s USDe listing as catalysts for Ethena’s bullish ￰0￱ range from $1.25 to $5.00 if ENA holds above $0.68 and momentum ￰1￱ Shows Strong Weekly Performance Ethena (ENA) has posted a sharp rise in the past week, gaining over 20%. The token is now priced at $0.84, with a 24-hour trading volume of $1.44 ￰2￱ gains stand at 9%. Crypto analyst Altcoin Sherpa said the asset shows strong momentum, noting that while profit-taking may be considered near current levels, the mid-term trend remains positive.

“I still am holding my position and it’s probably ok to take some profit around ￰3￱ that said, I do think that this trades higher in the mid term,” he ￰4￱ data shows ENA testing resistance near $0.85, which aligns with the 0 Fibonacci ￰5￱ has become an important short-term barrier , where some selling activity could ￰6￱ is currently seen around $0.70 (0.236 Fib), with deeper levels at $0.61 and $0.53. These levels could act as potential areas for buyers if the market retraces. $ENA : Great coin, everyone shilling it and it’s still going ￰7￱ after announcement, beauty. I still am holding my position and it’s probably ok to take some profit around ￰8￱ that said, I do think that this trades higher in the mid ￰9￱ ￰10￱ — Altcoin Sherpa (@AltcoinSherpa) September 9, 2025 Strong buying activity is evident in recent trading sessions, supported by higher green volume ￰11￱ suggests that demand is still present, even as ENA approaches near-term ￰12￱ Eye Higher Targets Rand pointed to buyback programs as a key factor in recent price strength, writing, “No chill for $ENA, the buybacks program on full ￰13￱ the bullish breakout on the local downtrend, wants new ATH.” The weekly chart also reflects a bullish structure, with ENA holding above the support range of $0.48–$0.55, which flipped from resistance into support earlier this ￰14￱ echoed this sentiment, stating, “Everything under $1.1 is cheap, it’s time we set a new ATH.” Meanwhile, the comment comes as Binance recently listed USDe, with total value locked (TVL) surpassing $13 billion, boosting sentiment around the Ethena ￰15￱ next major resistance levels are at $1.32 and $1.52, both marking previous swing ￰16￱ these are broken, ENA could enter price discovery.

Long-Term Outlook Crypto Patel noted that ENA is already up 270% from his initial entry, but still has room to grow. “$ENA is still up 270% from our first entry but I believe it still has room to run, $5 potential on the horizon,” he stated. Patel’s chart points to multiple upside targets: $1.25, $2.60, $4.00, and $5.00+. As long as ENA holds above $0.68, the structure suggests continuation toward higher ￰17￱ pattern of higher lows and higher highs after long consolidation phases supports the bullish case. Overall, ENA remains in a strong uptrend, with analysts identifying key resistance points ahead and projecting higher price ranges if momentum continues.