Ethena Price Surges 13% After Hyperion Launch as ENA Targets $0.13

Key Insights:

• Ethena price surged 13% after a bullish divergence formed between Jan. 31 and March 24 on the daily chart.
• Whale holders increased their positions by 18.62% over 24 hours as Hyperion launched a 59% APY sUSDe pool with $11M in TVL.
• Ethena price must break $0.13 resistance for a sustained rally, but long wicks show sellers already emerging.

Ethena price surged 13% in the past 24 hours, reaching around $0.10. The ENA price rally came after a bullish divergence formed on the charts.

Trading volume jumped 65% to $202 million, showing real buying pressure. But the coin has remained down 48% over the past three months. This means the recent bounce happened within a larger downtrend.

Whale Buying Fuels Ethena Price Rally

A bullish divergence formed on the daily chart between Jan. 31 and March 24. During this period, Ethena price made a lower low, falling further than the previous bottom. But the Relative Strength Index, which measures momentum from 0 to 100, made a higher low during the same timeframe.

When price makes a lower low but RSI makes a higher low, this creates a bullish divergence. The pattern signals that selling pressure is weakening even though the price keeps falling. This often marks a trend reversal point.

The divergence mattered because Ethena had been in a steady downtrend for three months. The coin needed a reversal signal. After the divergence was confirmed on March 24, whales started accumulating the very next day.

Whale holders increased their positions by 18.62% over the past 24 hours. They waited for the technical confirmation before buying aggressively. This shows that big money was watching the same divergence pattern and acted once it played out.

When large holders accumulate, it reduces the supply available for trading. This makes upward price moves easier because there are fewer coins available to sell. The whale buying, combined with reduced exchange supply (as highlighted in the Nansen snapshot), triggered the recent bounce.

New Hyperion Pool Drives Ethena Demand

The immediate catalyst for the rally was the launch of a new liquidity pool on Hyperion. Hyperion operates on the Aptos blockchain.

The platform launched a new sUSDe to USDC liquidity pool that appears prominently on the official Ethena Opportunities page. The pool currently offers an annual percentage yield of approximately 59%. APY means annual percentage yield, which is the return investors earn for providing liquidity to the pool.

The pool also offers a 30x Ethena Sats multiplier. Sats are points in the Ethena rewards program.

A 30x multiplier means liquidity providers earn points 30 times faster than normal. These high rewards attracted capital immediately. The total value locked in the pool, which means the total dollar amount deposited, hit $11 million almost instantly after launch.

This creates what the crypto industry calls a DeFi flywheel effect. High yields attract capital into the pool. That capital needs to buy sUSDe to deposit. sUSDe is the staked version of USDe, which is Ethena’s synthetic dollar. More demand for sUSDe means more USDe needs to get minted.

The minting and hedging process involves the protocol’s mechanics, which drives activity and attention to ENA tokens. More protocol usage typically benefits the native token. This explains why the pool launch translated directly into ENA price gains within hours.

Key $0.13 Level Must Break for Sustained Ethena Price Rally

Despite the 13% bounce, Ethena price faces a critical resistance level ahead. The coin broke above the $0.09 to $0.10 range that had capped it for weeks. This breakout with volume was genuine. But the next major barrier sits at $0.13.

This level has acted as strong resistance since early February. Multiple attempts to break above it have failed.

For the rally to transform into a sustained uptrend, Ethena price needs to move another 25% from current levels to clear $0.13 decisively. That is a significant move still required. On the downside, the recent low of $0.09, set on March 24, has become the critical support level.

If ENA price falls back below $0.09, the entire bullish divergence pattern gets invalidated. That would signal the reversal attempt failed, and weakness could return.

The current 12-hour candle on the chart shows a concerning sign. It has a long wick on top. This suggests profit-taking or fresh selling pressure is already emerging even as the rally continues.

The rally still stands on relatively weak ground despite the strong fundamentals. Sellers appearing this early could derail the move before it reaches the critical $0.13 level that determines whether the Ethena price can sustain bullish momentum.