Will ENA Smash the $0.65 Barrier After 12% Rally?

TL;DR

• ENA trades above all main EMAs, confirming a short-term bullish development within the present construction.
• $0.65 stays a crucial resistance degree; holding above it may open the trail to $0.75.
• Retail participation spikes within the $0.60–$0.70 vary, typically linked with warning close to native tops.

ENA Nears Key Resistance Zone

Ethena (ENA) traded round $0.63 at press time, after gaining roughly 12% previously 24 hours. The day by day buying and selling quantity stands near $780 million. Regardless of being down 5% over the previous week, the short-term development is displaying renewed energy.

In the meantime, the token stays in consolidation just below the $0.65 degree, recognized as a crucial level in earlier market cycles. Analyst CryptoAmsterdam famous that breaking and holding above this vary quarter mark may act as a set off for an extra transfer up. 

If that occurs, worth targets could shift towards the mid-range close to $0.75. If not, a transfer again to assist close to $0.35 stays potential.

// $ENA (replace)

Nonetheless consolidating under the 0.25 (vary quarter) resistance, wanting excellent.

Two situations:

> We flip the 0.25
After some extra consolidation, and proceed to fly larger. This degree is usually (!) a launchpad into stage 5 of the cycle.

If we do break… https://t.co/SS4ufsugRI pic.twitter.com/9lJZPIa4go

— CryptoAmsterdam (@damskotrades) August 7, 2025

Indicators Assist Upward Momentum

On the 4-hour chart, ENA trades above the 20, 50, 100, and 200-period exponential transferring averages (EMAs). These are aligned in bullish order, with the present worth sitting properly above the 200 EMA close to $0.49. This sample typically suggests a continuation within the present development.

Moreover, the Cash Move Index (MFI) reads 57. This alerts rising shopping for curiosity however nonetheless leaves room earlier than overbought circumstances are reached. An MFI underneath 80 suggests the development should still have room to run.

Retail Merchants Are Lively Once more

Knowledge from CryptoQuant reveals retail exercise has elevated sharply. The most recent readings within the $0.60 to $0.70 vary are marked purple, labeled as “Too Many Retail,” an indication of heavier participation by smaller merchants. Related previous clusters have typically appeared close to native peaks.

Crypto Rand noted the identical development, pointing to robust inflows and regular consolidation. The present buying and selling sample suggests the market is ready to see whether or not this degree will break or maintain.

Lastly, the $0.65 degree stays a key space. A confirmed breakout may open the way in which towards larger targets. Failure to carry above that line could convey worth again to the decrease vary. Till then, the market construction stays impartial, and merchants are looking ahead to affirmation in both path.