Rally

bullish

Elite

Ethena

Gains

<p>Ethena (ENA) has recently shown promising signs of strength after months of downward price action. Per CoinMarketCap’s data, <a href="https://captainaltcoin.com/why-is-ethena-ena-price-up/" target="_blank" rel="noopener noreferrer nofollow">Ethena’s (ENA) price</a> is the top gainer today in the market, as it saw a 24.59% pump. Its trading volume also saw a 135.35% increase, which means there is a higher interest and activity surrounding ENA.</p>
<p>Crypto analysts ZAYK Charts and Alain Arends shared their insights, suggesting the token could be on the verge of a bullish rally. With a breakout confirmed, these analysts see the potential for substantial gains in the coming months.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/how-much-could-kaspa-kas-and-sui-tokens-be-worth-at-the-end-of-the-bull-run/" target="_blank" rel="noopener noreferrer nofollow">How Much Could Kaspa (KAS) and SUI Tokens Be Worth at the End of the Bull Run?</a></em></strong></p>
<h2 class="wp-block-heading" id="ethena-ena-chart-analysis-bullish-breakout-from-descending-broadening-wedge">Ethena (ENA) Chart Analysis: Bullish Breakout from Descending Broadening Wedge</h2>
<p>The ENA chart reveals a declining broadening wedge pattern, as noted by ZAYK Charts in a tweet. This formation, typically a bullish reversal signal, contained ENA’s price for several months.&nbsp;</p>
<p>According to ZAYK Charts, a breakout above the upper trendline of this pattern could lead to a 100-120% bullish wave.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="492" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-1024x492.png" alt="" class="wp-image-566751" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-1024x492.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-300x144.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-767x369.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-1536x739.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-2048x985.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-312x150.png 312w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-100x48.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-728x350.png 728w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541-788x378.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-541.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/ZAYKCharts/status/1845716005626278021" target="_blank" rel="noopener noreferrer nofollow">X/ZAYKCharts</a></em></strong>
 </figcaption>
</figure>
<p>As predicted, the ENA price broke out from the wedge, signaling a potential end to the bearish trend. The breakout aligns with ZAYK’s forecast of a bullish wave, with price targets between 0.85 and 1.00 USDT. The current price momentum is pushing ENA toward these levels, supported by the widening wedge and upward trajectory.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="key-resistance-and-support-levels">Key Resistance and Support Levels</h2>
<p>Following the breakout, the 0.4071 USDT level has emerged as a critical price point. The 8-hour chart indicates that ENA’s price broke above this key resistance level, which previously acted as a rejection zone. This breakout suggests renewed strength in the market, as highlighted by Alain Arends in his analysis.</p>
<p>The recent surge confirms a bullish sentiment. If the price continues above 0.4071, it could transform this level into support, encouraging further upward movement.&nbsp;</p>
<p>However, traders should be mindful of potential pullbacks, with key support levels around 0.25 – 0.30 USDT, should the bullish momentum stall.</p>
<h2 class="wp-block-heading" id="potential-for-a-j-curve-rally">Potential for a J-Curve Rally</h2>
<p>Alain Arends suggested that the current price movement could resemble a J-curve pattern, a formation known for rapid, exponential growth after a period of decline. He expects this pattern to unfold over higher timeframes, potentially leading to sustained bullish movement.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ENA</a> finally starting to show some strength after months of downward PA. <br><br>Expecting a J-curve pattern out of those one on higher time frames in the coming months. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f91d.png" alt="🤝" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/kCb0A0Xjsv" target="_blank" rel="noopener noreferrer nofollow">https://t.co/kCb0A0Xjsv</a> <a href="https://t.co/cFE1EKZpmh" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/cFE1EKZpmh</a></p>— Alain Arends (@alain_arends) <a href="https://twitter.com/alain_arends/status/1845785081605914915?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 14, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The wedge breakout and the J-curve pattern show strong evidence of a continued upward trend. Should the price maintain this momentum, the next targets would be between 0.45 and 0.60 USDT, a zone where profit-taking may occur.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/bitcoin-price-breaks-66k-elite-analyst-maps-btcs-path-to-over-71k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Price Breaks $66k – Elite Analyst Maps BTC’s Path to Over $71k</a></em></strong></p>
<h2 class="wp-block-heading" id="market-sentiment-and-future-prospects">Market Sentiment and Future Prospects</h2>
<p>The market’s current sentiment toward ENA is bullish. The breakout from the downtrend and the rise above resistance levels indicate a possible long-term reversal. Traders are watching the volume to confirm the breakout, as higher volume would lend more credibility to the rally.</p>
<p>With analysts expecting substantial gains,<a href="https://coinmarketcap.com/currencies/ethena/" target="_blank" rel="noopener noreferrer nofollow"> ENA’s price</a> could continue its upward trajectory in the coming months. However, caution is advised, as pullbacks and false breakouts are always possibilities in volatile crypto markets.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/ethena-ena-price-breaks-out-is-a-massive-rally-on-the-horizon/" rel="noopener noreferrer nofollow">Ethena (ENA) Price Breaks Out: Is a Massive Rally On the Horizon?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethena (ENA) Price Breaks Out: Is a Massive Rally On the Horizon?

Table of Contents

CaptainAltcoin

Other articles published on Oct 14, 2024

Omni Network Simplifies Ethereum Development Process

Bybit Announces Growth Milestone for Liquid Staking Token bbSOL, Surpassing $100 Million in Locke...

Crypto Clash: Craig Wright’s Billion-Dollar Lawsuit Against Bitcoin Developers

Dogecoin (DOGE) Price Shines Green Amid $78.68 Million Mysterious Whale Transfer

FTX Hearing Set for October 7: Key Details on the Payout Process

Solana (SOL) Whales Transition to AI Dating ICO GoodEgg (GEGG) After $250K Surge in 48 Hours, Tot...

Join our free newsletter for daily crypto updates!