Ethena (ENA) Price Hits Key Demand Zone as Indicator Flashes a Buy Signal – Crypto Expert Explains!

ENA's price has jumped up by 8.80%, now trading at $0.4001. Trading volume has more than doubled, up by 146.59%.

Ethena (ENA) price is currently trading at $0.4001, up 8.80% for the day, while trading volume has more than doubled, increasing by 146.59%.

As the TD Sequential indicator suggests it might be a good time to buy, possibly indicating a trend change, some analysts are weighing in on the possible implications.

Crypto experts such as Ali and Altcoin Sherpa have shared their thoughts on ENA’s technical patterns and where it stands in the market.

"9" Count Hits on Weekly Chart As Ethena Price Shows Signs Of Recovery

Highlighting the TD Sequential indicator, Ali shared that it has printed a “9” buy signal on the weekly chart of ENA, indicating potential upward momentum

"New high-volume demand zone on ENA. Unlocks are reportedly completed, but personally, I prefer to wait for a confirmed move up to join the trend. Otherwise, no position at the moment.

Those who entered on the prior bounce at $0.33 saw some decent gains. Key resistance is at $0.48, followed by $0.60-$0.65. The Volume Profile Visible Range (VPVR) shows a high node around the current price, indicating strong demand in this zone.

Above this range, there's a low-volume gap, suggesting that if ENA breaks through key resistance levels, it could move up quickly. Let's see how it plays out."

Ethena Price Could See Recovery As It Tests Key Demand Zone

The short-term outlook for ENA depends on whether it can break above the $0.45 to $0.50 range. If it fails to do so, we might see the price remaining range-bound or retesting lower support levels.

A move above $0.65 would be instrumental in shifting the overall trend, signaling renewed bullish momentum for ENA.

Traders and investors will be keenly watching to see if the TD Sequential buy signal coincides with a breakout from this key resistance zone, as suggested by Ali and Altcoin Sherpa.

If this scenario unfolds, we might witness further price appreciation for ENA in the days to come.