Ethena Primed for Explosive Rally—$0.96 Resistance in Sight as Bulls Charge

Ethena's chart flashes green as buyers gear up for a decisive push toward the $0.96 ceiling—a level that’s haunted rallies since Q2. Technicals scream accumulation, but will the ‘smart money’ actually let retail win this time?

Key Drivers:

- Symmetrical triangle breakout on the 4H chart confirms bullish momentum

- RSI coils at 62, leaving room for a full-throttle advance

Market Pulse:

Traders are piling into perpetual swaps while shorts get squeezed—classic FOMO fuel. Liquidity pools near $0.90 suggest algos are priming the pump. Just don’t mention how often these setups fail when CEX whales decide to cash out.

Bottom Line:

This isn’t financial advice, but that resistance won’t break itself. Either Ethena carves a new higher high by week’s end, or we get another masterclass in ‘buy the rumor, sell the news’ crypto theater.

Key technical points

• Near-Term Support: $0.67 high time frame support in confluence with 0.618 Fibonacci.
• Next Resistance: $0.96, untested since earlier in the year.
• Volume Profile: Healthy bullish influxes supporting sustained uptrend.

From a technical perspective, the $0.67 level is the most significant nearby support. This high timeframe support zone aligns with the 0.618 Fibonacci retracement, making it an ideal location for a bullish retest if a corrective move develops. A higher low forming here WOULD preserve the current trend structure and provide a foundation for another rally.

The $0.96 high timeframe resistance is the next major upside target. This region has not been tested since it was lost earlier in the year, making it a critical level for price discovery if broken. A clean breakout above this region would establish new yearly highs and likely draw further bullish momentum into the market.

The volume profile supports this bullish outlook, showing sustained above-average buying activity. This is considered healthy in an uptrend, as it indicates ongoing demand and trader participation at current price levels. At present, there are no technical signs of the uptrend slowing.

In the immediate short term, a pullback to $0.67 would not be bearish but rather a potential buying opportunity. A successful bounce from this level could propel ENA toward $0.96, keeping the bullish market structure intact.

What to expect in the coming price action

If Ethena pulls back to $0.67 and holds, expect a reversal back toward $0.96 resistance. A breakout above this level would mark new yearly highs and extend the current uptrend.