Ethena (ENA) Flashes Clear Signs of Long-Term Potential Following Bullish Analysis by Alan Santana

Ethena (ENA) has gained traction among cryptocurrency aficionados, notably following a bullish analysis by prominent TradingView analyst Alan Santana.

Cryptocurrency enthusiasts are keeping a close eye on Ethena (ENA), especially after a bullish analysis by TradingView's renowned analyst, Alan Santana.

Highlighting Ethena's price movement, Santana notes that it's breaking through important resistance levels, further supported by increasing volume and a bullish market trend.

With the current price hovering around $1.15, thisごとるけるくすり breakthrough above the long-term resistance range of $1.04–$1.11 marks a bullish zone that could potentially lead to long-term growth.

Clear Indications for ENA's Long-Term Potential

Emphasizing the crucial need for closing above the $1.11 mark, Santana highlights that it would confirm the continuation of the bullish trend.

Moreover, he also points out how easy it is to trade Ethena's current chart setup and suggests placing stop losses on the chart below the key blue line.

"I would buy and hold long-term because resistance is being broken, prices are rising, and volume is going up," he notes, ultimately expressing his optimism for Ethena's trajectory.

Meanwhile, at the time of writing, ENA is changing hands at around $1.02, marking a 13.85% correction over the last 24 hours despite this bullish outlook.

With a market cap of nearly $3 billion, this slight dip contrasts sharply with Santana's positive perspective, although it could be a minor pullback within a broader bullish trend.

In other news related to Ethena's developments, Coin News Flash (CNF) recently reported on the launch of USDtb, a stablecoin created by Ethena Labs and backed by BlackRock's BUIDL fund.

Operating on multiple blockchains, including Ethereum, Solana, and Arbitrum, this stablecoin aims to offer both scalability and deep liquidity. Powered by LayerZero's cross-chain technology, USDtb complements Ethena's innovative approach to decentralized finance.