Ethena ($ENA) sits in a strong accumulation zone with potential targets up to $1.50, offering up to 700% upside for investors.
Ethena (ENA) has recently entered a strong accumulation zone, trading between $0.20 and $0.18.
This level has previously triggered impressive gains, with the price climbing by over 500% in the past.
Currently, buyers are actively defending this demand zone, leading to speculation that another significant price move could be on the horizon.
Investors are hopeful that ENA might replicate the previous price surge, with potential targets of $0.63, $1.50, or even $3, offering gains of up to 700%.
Accumulation Zone and Seller Exhaustion
Ethena has been making lower highs under a descending trendline, a common pattern that indicates potential reversal.
Despite the downward movement, buyers continue to defend the $0.20–$0.18 zone with strong support.
Multiple rejections at these levels suggest that selling pressure is weakening, often a sign of seller exhaustion.
This exhaustion, combined with smart money accumulation, has led many to believe that ENA is nearing a potential breakout.
For many traders, the period of consolidation is seen as a buildup before a large price movement.
The current accumulation zone mirrors the conditions that preceded a +500% price surge in the past.
With the support zone holding firm, it is possible that ENA could see another major rally if the price breaks out of its descending trendline.
Key Levels to Watch for Ethena (ENA)
The key levels for Ethena’s price action are critical for short-term and long-term investors.
The support zone between $0.20 and $0.18 is where ENA has found stability, and any movement below this zone could signal weakness.
On the other hand, if the price continues to hold this range, a breakout to higher price targets becomes more likely.
Traders are eyeing price targets of $0.63, $1.50, and even $3 for ENA, representing potential upside of 700%.
These targets are based on historical price action and the current accumulation patterns.
For those looking to invest in ENA, it’s important to monitor the price closely and be prepared for volatility.
Related Reading: Ethena $0.20-$0.23 Zone Sparks Breakout Buzz
Patience and Long-Term Potential
Investing in Ethena requires patience, as the asset is currently in a consolidation phase.
However, history suggests that such periods often precede significant price movements.
Investors who can wait for the price to break out of its current range could see substantial gains in the coming months.
While ENA’s all-time high stands at $1.52, it is important to remember that the cryptocurrency market is highly volatile.
Investors should approach with caution and consider doing their own research (DYOR) before making any decisions.
However, for those willing to hold through the current accumulation zone, the rewards could be substantial if ENA replicates its past performance.
Source: https://www.livebitcoinnews.com/patience-could-pay-off-for-ena-investors-as-target-hits-1-50/
