The Ethena (ENA) token has confirmed a falling wedge breakout on its 4-hour chart, signaling a potential shift in market momentum. Technical analysts point to a weakening bearish trend and project a possible 40-50% price increase, with a key target near $0.16. Momentum indicators, including the RSI and MACD, currently support this bullish reversal narrative for the cryptocurrency.
The Ethena (ENA) token has captured trader attention after confirming a falling wedge breakout on its 4-hour chart. According to crypto analyst ZAYK Charts, this pattern formed during a prolonged consolidation phase and hints at seller exhaustion. The breakout signals a potential shift toward renewed bullish sentiment ahead.
Analysts are projecting a possible 40–50% upward movement following this technical development, with discussions centering on the $0.16 price level. However, traders remain cautious and emphasize the need for volume confirmation to validate the move within broader market uncertainty. This outlook is based on measured-move projections and an improving short-term structure.
Technical data shows ENA rebounding from the low $0.10 region to test resistance between $0.114 and $0.118. The price is now testing the Ichimoku cloud, which may act as resistance, while longer-term moving averages continue to indicate macro weakness. This presents a technically sensitive area where the price could advance further or return to recent support levels.
Momentum indicators currently support the bullish case, with the RSI rising into the mid-60s, indicating increasing buying power. The MACD shows a decisive bullish crossover, with its green histogram bars expanding, which analysts interpret as a sign of rising momentum. Both indicators suggest an improving trend from recent negative territory for the token.
