ENA Analysis

Project Summary:
Ethena (ENA), with the Ethereum-based synthetic dollar protocol (USDe), offers an alternative financial model to classic stablecoins.
USDe is supported by collateralized futures positions and maintains price stability through a delta-hedging system.
The ENA token is at the center of governance ( governance ) and incentive mechanisms.

Technical Analysis (14 October 2025)

Price: $0.74
RSI (4H): 56 → Positive momentum
MACD: Bullish crossover
Support: $0.55 – $0.60
Resistance: $0.85 – $1.10
Target: $1.30

Comment:
ENA has entered an uptrend with support taken at the $0.60 level.
A breakout above $0.85 in volume could bring the target of $1.10 – $1.30 into focus in the medium term.
However, the risk of correction increases in closures below $0.55.

Basic & On-Chain Data
TVL reached the level of 10B$
USDe peg stability: volatility below 1%
Whale transactions: %+12 increase in the last 7 days
New integrations: EigenLayer + Lido collaborations
Supply pressure: Low in the short term, unlock schedule limited

Scenarios

Bull Scenario:
Staying above $0.85 → targets of $1.10 / $1.30
TVL growth and USDe stability can support the price.

Bear Scenario:
Closing below $0.55 → risk of pullback to support at $0.45
Liquidation or peg loss can create selling pressure.

General Assessment:

Ethena (ENA) is presenting an innovative model that combines DeFi and stable asset concepts.
Rising TVL and strong technical outlook support bullish sentiment in the short term.
Critical level: $0.85 — the breakout will determine the direction of the trend.