Over the past day, Ethena (ENA) surged by 6.67%, moving from a low of 0.25 USD to a current price of 0.3342 USD. The altcoin also showed an 8.04% weekly gain.
Analysts highlight a shift in market sentiment and strong upward momentum, with negative Netflow indicating increased buyer activity. The ongoing bullish outlook is supported by rising futures buy volume.
If favorable conditions persist, ENA may break out from the inverse head and shoulders pattern, targeting a price of 0.39 USD. Conversely, failure to maintain the upward trend could see a pullback to 0.30 USD.
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