TLDR:
- Ethena (ENA) breaks $0.34 resistance with a 9% daily gain and increased whale accumulation.
- TVL growth signals rising DeFi confidence as trading volume climbs sharply.
- July token unlocks may pressure the price if demand can’t offset the new supply.
- Forecasts diverge widely, with 2025 targets ranging from $0.146 to $1.61.
Ethena (ENA) has entered a critical phase following a breakout above a key resistance level. The recent price movement suggests growing investor confidence, supported by rising demand and strong trading activity.
Despite prior selling pressure after its Coinbase listing, the asset is now trading above $0.35. Analysts point to increasing whale accumulation and open interest as signs of mounting interest.
With additional factors such as rising TVL and looming token unlocks, ENA’s price direction remains in sharp focus.
ENA Price Surpasses Resistance at $0.34
After fluctuating between $0.286 and $0.3687 over the past week, ENA has broken above the $0.34 resistance level.
At presstime, the token trades at $0.3579, showing a 9.36% gain in 24 hours and a 4.16% increase over the past week, according to CoinGecko. This upward move follows prior consolidation after the token fell to $0.30 post-Coinbase listing.
InvestingHaven noted that $ENA’s breakout above $0.32–$0.34 could mark a technical shift.
Their analysis points to growing whale accumulation and futures open interest as underlying drivers, suggesting that institutional interest may be forming. These indicators hint at sustained demand, especially amid growing speculation about a larger rally.
$ENA at a Tactical Pivot
ENA dipped to ~$0.30 after Coinbase listing, facing near-term resistance and looming token unlocks.
Yet, whale accumulation and futures open interest suggest underlying demand.#ENA breakout above $0.32–$0.34 could shift the technical landscape. pic.twitter.com/GULrNsKbT8
— InvestingHaven (@InvestingHaven) June 10, 2025
Ethena Trading Volume and TVL Point to Renewed Confidence
Trading volume has surged alongside the breakout, signaling heightened market participation.
Crypto Rand remarked that a break above $0.41 could confirm a full bullish reversal. He also cited ENA’s breach of a local downtrend and emphasized recent increases in volume.
In parallel, Ethena’s Total Value Locked (TVL) has grown in 2025, a key DeFi metric that often reflects platform confidence. Rising TVL suggests that more users are locking funds within the protocol, reinforcing its perceived utility.
Eyes on $ENA, breaching up the local downtrend, massive volume increase during the last weeks.
Breakout over the 41 cents range triggers the full bullish reversal
pic.twitter.com/SygzyFbNBx
— Crypto Rand (@crypto_rand) June 10, 2025
However, historical patterns in similar assets advise investors to remain cautious as market sentiment can shift quickly.
Ethena Token Unlocks May Add Near-Term Pressure
While bullish momentum builds, upcoming token unlocks remain a concern. According to data, 94.19 million ENA tokens, about 0.63% of the total supply, are scheduled to unlock on July 2. As of now, 44.58% of tokens are circulating, while 55.42% are still locked.
These unlocks may introduce selling pressure if market demand fails to absorb new supply. Consequently, investors are watching both sentiment and volume trends closely ahead of July.
ENA’s price outlook for 2025 remains mixed. Some forecasts expect a fall toward $0.146, while others anticipate growth to as high as $1.61 by year-end. This wide range reflects ongoing uncertainty in the broader market despite stabilization efforts.
The post Ethena (ENA) Price Action Heats Up: Why This Breakout Could Trigger Massive Rally appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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