• Ethena (ENA) continues to gain attention as its price rebounds 1.17% in 24 hours, signaling buyer activity.
• Technical indicators show ENA trading below the 20- and 50-day EMAs, signaling short-term bearish pressure.
• Analysts highlight a bullish shift, noting that a decisive breakout above $0.50 could trigger a rally toward the $1.

Ethena (ENA) is currently on an upward trend, showing renewed momentum as investor interest grows. Over the past 24 hours, the token’s value has risen by nearly 1.17%. However, despite this short-term rebound, ENA has seen a drop of 12.22% over the past week.

At the time of writing, ENA is trading at $0.4697, with a 24-hour trading volume of $385.32 million, representing a 2.14% decline compared to the previous day. The token’s market capitalization stands at approximately $3.36 billion.

Source: CoinMarketCap

Ethena Momentum Fades After a Strong 2024 Run

The data from CryptoRank revealed that in 2024, performance showed strong and consistent growth overall despite notable volatility. After a solid rise in the middle of the year, brief downturns were quickly followed by a strong and sustained recovery. The year ended on a decisively positive note with clear upward momentum and investor confidence.

Source: CryptoRank

In contrast, 2025 has been largely negative, marked by weaker performance and higher uncertainty. Early months saw steady and extended declines, while the short mid-year rebound failed to maintain strength. So far, the year reflects a clear downturn compared to 2024’s strong and optimistic finish.

Also Read: Ethena Price Outlook: Can ENA Rebound from $0.38 Support to Target $1.00–$1.30?

Ethena Rebound Sparks Bullish Momentum Toward $1

Moreover, the crypto analyst, Rand, highlighted that ENA’s performance has demonstrated remarkable recovery, indicating a renewed bullish momentum following a period of consolidation. The token’s significant breakthrough beyond the key resistance at $0.50 is an essential technical change, indicating an increasing level of investor optimism. The development has triggered positive sentiment among traders who hope for a possible bullish turnaround in the next few days.

Source: X

Now, $0.50 is a prominent barrier; market analysts have already set their sights on the next significant level at $1 if it breaches $0.50 successfully, carrying more than 100% potential for upward momentum. The rise in trading volumes coupled with high levels of engagement in the market is also strengthening the trend, making ENA one of the top-performing cryptocurrencies in the ongoing market cycle.

Ethena Technical Outlook Signals Weak Momentum

The price chart for Ethena (ENA) is displaying an overall downtrend, with the price going below the 20 and 50 EMA levels at $0.54092 and $0.53328, respectively. The red candles in the pattern also signify resistance around the $0.53-$0.54 levels, as the price is positioned below these levels.

Source: TradingView

The RSI is presently at 46.48, indicating weak momentum, with the MACD line remaining below the signal line with a value of -0.01803, thus indicating a weak trend in the market with a bearish bias in the plot. Only if the RSI moves above 50 could a reversal happen with the reclaiming of the EMAs.

Also Read: Ethene (ENA) Price Analysis: Bullish Wedge Pattern Targets $1.20 Breakout