ENA (Ethena) — Strong Bounce from Support | Multi-Week Rally Setup
Technical Overview
(Ethena) has successfully bounced from the lower support zone while continuing to trade inside a descending channel on the 3-day timeframe. This type of reaction often signals trend continuation with a corrective-to-reversal move, especially when buyers defend the channel support.
The current structure suggests the possibility of a multi-week recovery rally if price maintains support and builds higher momentum.
Upside Price Targets (Step-by-Step)
Target 1: $0.35
Target 2: $0.46
Target 3: $0.67
Target 4: $0.88
These levels align with previous resistance zones and channel mid/top levels, making them realistic milestones rather than a single straight move.
Trading Plan & Risk Management
Bias: Bullish while above support
Entry Style: Scaled buying / confirmation-based entries
Time Horizon: Multi-week swing
Invalidation: Clean breakdown below the lower channel support
Always manage risk — partial profits at each target are recommended.
Market Insight
Descending channels often act as accumulation zones before a breakout. A confirmed breakout above the channel resistance would significantly strengthen the bullish case and open the door for extended upside.