Ethena (ENA) Price Hits Key Demand Zone as Indicator Flashes a Buy Signal – Crypto Expert Explains!
ENA’s price has jumped up by 8.80%, now trading at $0.4001. Trading volume has more than doubled, up by 146.59%. Some analysts are taking notice because the TD Sequential indicator suggests it might be a good time to buy, possibly indicating a trend change. Crypto experts like Ali and Altcoin Sherpa have shared their thoughts on ENA’s technical patterns and where it stands in the market.
Ali pointed out on X (formerly Twitter) that the TD Sequential indicator has printed a “9” buy signal on the weekly chart, hinting at possible upward momentum. The ENA chart analysis indicates a prolonged downtrend with consistent lower highs and lower lows, which pushed the price from $1.20 to a recent low of $0.33.
A key support level at $0.33 provided a temporary floor, leading to a slight recovery. However, ENA’s price faces resistance in the $0.45 to $0.48 range, with a more substantial barrier at $0.60 to $0.65. A descending resistance line further defines the bearish trend, making a breakout above this level essential for a reversal.
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Ethena Market Sentiment and Trading Volume Surge
Altcoin Sherpa shared his perspective, noting that ENA is trading within a high-volume demand zone. His analysis suggests that while unlocks are reportedly completed, he prefers to wait for a confirmed upward movement before entering a position.
The Volume Profile Visible Range (VPVR) reveals a concentration of trading volume near the current price level, reinforcing the idea of a strong demand zone. Above this range, a low-volume gap suggests that if ENA’s price breaks key resistance, it could move upward quickly.
Ethena Key Levels to Watch in the Coming Days
The short-term outlook for ENA hinges on its ability to break above $0.45 to $0.50. Failure to do so could see the price remain range-bound or revisit lower support levels. A move above $0.65 would mark a trend shift, signaling renewed bullish momentum.
Traders and investors are monitoring whether the TD Sequential buy signal aligns with a breakout, as suggested by Ali and Altcoin Sherpa. If confirmed, ENA’s price could see further appreciation soon.
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