Ethena Price Analysis: Bullish TD Signal Hints at $0.63 Surge

Ethena Bullish TD Signal Points to Potential Surge Toward $0.63

Ethena Price is flashing a bullish signal as the TD Sequential indicator suggests a potential upward reversal at a crucial support zone. Over the past month, Ethena ($ENA) has rallied by an impressive 110%, signaling strong investor interest. The past week alone has seen a 20% price increase, defying the broader market correction. 

Despite recent market turbulence, ENA remains on an upward trajectory, fueled by continued bullish sentiment. The asset is still trading well below its all-time high of $1.52, recorded on April 11, 2024. However, it's up nearly 194% from its all-time low of $0.1953 set in September 2024.

Crypto Analyst Predicts Ethena Price Bullish Rebound

Crypto analyst reports suggest that the Ethena price may be entering a potential recovery phase after flashing a buy signal. The signal came from the TD Sequential indicator, which triggered at a critical support level, drawing increased attention from traders and investors.

According to the analysis, a 4-hour candle closing above the $0.578 mark could confirm the bullish setup. If confirmed, this move might pave the way for a short-term rally toward the $0.63 resistance zone. The TD Sequential tool is commonly used to identify points of exhaustion in a trend, signaling when a reversal may be underway.

Source: Ali chart, tweet

Following a decline from near $0.72, $ENA appears to have stabilized at current levels.. A sustained move above the highlighted threshold could boost buying momentum and shift sentiment more positively in the near term.

ENA Mirrors 2024 Pattern, Buy Opportunity

Crypto analyst holds price action of Ethena at current prices to the patterns it made in late 2024. In his analysis, the token seems to have entered into a corrective mode and this could be followed by an important rally.

A chart posted indicates a zone of possibly trough in an area of a lower blue line of support. The analyst says that this region may be characterized as a good purchase point in the event the price falls back to it. He further notes a pattern in history about the mirror in the market, that is, the market may be practicing history..

ENA Price Holds Gains, Eyes Key Resistance

As of 30th July, the ENA price hovered at $0.5741, showing a slight intraday increase of 0.58% on the Binance exchange.

Technically, the Chaikin Money Flow (CMF) is 0.07, which implies moderate buying pressure and the constant inflow of capital. This is an indication that investors are still interested though there is a profit taking.

The MACD calculations indicate that the bullish momentum is bullish but the momentum is becoming slower. The MACD line of 0.0785 stays above signal line of 0.0678 indicating long-term bullish strength.

Source: TradingView

In case the bulls can hold above $0.55, the next resistance is within the vicinity of the $0.80. There might be clean breakout above this range opening the way up to the psychological level of $1.00.

Nevertheless, failure to support $0.55 may open the doors to selling action, which may drive the price down to the $0.45 region as temporary support and prevention.