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Following
ENA ENA is approaching long-term downward resistance. After a narrow consolidation, the breakthrough signal gradually appears.
The bulls continue to defend near key support levels. Despite the fierce fluctuations within the day, trading volume recorded a significant daily increase. Once the price is confirmed to break through the resistance of the trend line, the market structure that continues to be revised may usher in a kinetic transformation. ENA breakthroughs remain the focus of the current market. Ethena is about to hit key technical resistance levels. Traders are paying close attention to confirmation signals after long-term consolidation and improved price stability.
Long-term resistance comes into view
ZAYK Charts pointed out that ENA is approaching a key technical obstacle. The analyst believes that the confirmation signal may trigger a stronger bullish trend. This observation is based on several months of continued downward price movements.
The daily chart shows that a line of downward resistance extending from previous cycle highs is suppressing prices. Every rebound attempt is blocked below this trend line. Throughout the long correction process, the bears repeatedly held that position.
However, recent price movements have shown gradual changes below resistance. Selling pressure has weakened compared with the previous period. The sharp decline that had occurred previously has been replaced by lower volatility.
Prices also continue to form relatively stable lows near existing demand areas. After correction in recent trading days, bulls have returned repeatedly. This behavior maintains the integrity of the overall consolidation structure.
Price structure suggests kinetic energy is shifting
The gap between price and resistance continues to narrow, reflecting the intensification of market compression. This situation often indicates that a stronger directional movement is coming. Traders are now waiting for confirmation signals rather than guesses.
ZAYK Charts pointed out that confirmation remains the decisive factor. If the daily close stands at resistance, it will strengthen the bullish reasons. Successful stepping back can further verify the expectation of a trend reversal.
Technical goals show potential upside to exceed 130%. This estimate is based on the height of the long-term consolidation pattern. The target level still depends on the confirmation of breakthrough conditions.
Trading volume will also be an important confirmation signal. Higher engagement often helps support continued breakthrough attempts. If the trading volume is low, the probability of being rejected again may increase.
Intraday activity shows that bulls are holding support
CoinMarketCap data shows that ENA prices are close to US$0.0834 in the latest trading session. The token fell approximately 1.7% on the day. Despite the decline, trading activity remained very active.
Prices initially weakened and then gained support in the US$0.0826 region. Bulls responded quickly after the fall. The rebound prevented deeper intraday breaks.
Subsequently, ENA briefly rose above US$0.0850, but then fell back. Profit-taking occurred near this resistance level. This trend confirms that bears are still fiercely defending at high levels.
Trading volume increased by more than 13% from the previous day. The market value remained around $783 million during the trading period. The market is currently concerned about whether the ENA breakthrough confirmation will replace the continued consolidation below long-term resistance.
