thecoinrepublic.com
Ethena ($ENA) coin is on the rise, having increased its price by 26% from the Fibonacci buy zone at $0.87.
The token’s recent rally highlights strong market interest, supported by robust technical indicators that point toward continued upward momentum. Analysts are eyeing key price targets of $1.3273 and $1.7262, fueled by sustained investor confidence and ecosystem growth.
Ethena Coin Fibonacci Zone Sparks Bullish Rally
The rally started at the $0.87 Fibonacci buy zone that is equivalent to 0.618 Fibonacci retracement level. This level, which is often considered as a key level of support in technical analysis, provided the basis for the price rebound of Ethena.
The token rose from this zone after testing it, and there was massive buying pressure, and this confirmed the bullish trend.
As Ethena’s price increased it formed higher highs and higher lows, thus depicting a clear bullish trend. A consolidation phase that recently occurred, accompanied by high trading volume, added more confidence to the bull run.
Ethena ($ENA) Coin Market Performance
At present, Ethena is trading at $1.22 and has been on an upward trend in the last 24 hours.
In addition, its trading volume also increased to $580.98 million from the previous $408.62 million, a 42.32% rise, indicating increased trading activities and deep liquidity in the market.
The total value locked (TVL) is at $5.94 billion. This high TVL shows the expanding use of Ethena’s ecosystem and the support it gets.
Analysts Predict Further Gains
Moving forward, two important price targets have been identified by the analysts. The first one, $1.3273 is a crucial resistance level and a possible place of taking profit. This target is underpinned by Fibonacci extensions and recent swing highs, which makes this level a crucial point in Ethena’s rallying.
🎯 +26% Profit Achieved!$ENA has surged 26% from the Fibonacci buy zone ($0.87), confirming the strong uptrend.
— Rose Premium Signals 🌹 (@VipRoseTr) January 3, 2025
The bullish momentum aligns with the breakout and continuation toward higher targets.
Next Targets 📈
🎯 Target 1: $1.3273
🎯 Target 2: $1.7262 pic.twitter.com/UBGEBZpfyx
The second target, $1.7262, looks more as an optimistic scenario. Achieving this level will be a rise of more than 100% from the Fibonacci buy zone which shows that the rally of Ethena is still strong.
The analysts are optimistic about this target saying that provided the uptrend persists, the token’s strong technicals and the general positive market sentiment will see it reach this mark.
But the journey to these levels is not an easy one.
Potential for pullbacks can occur when markets are nearing resistance levels or when there are fluctuations in market volatility. Investors should pay particular attention to the volume fluctuations and other market factors to anticipate Ethena achieving these targets.
Investor Confidence Rises
The market sentiment for Ethena coin is quite bullish and the Fear & Greed Index is at 74 which means investors are in the greed territory.
This “Greed” territory is often associated with increased demand, and the current price behavior shows this situation well. According to long-term predictions, Ethena may rise to $3.44 by February 2025, which would be a 228.84% gain from present values, thus supporting its growth.
Traders are to remain cautious as short-term traders may decide to take in profits thus leading to short-term pullback. However, as long as key support levels like the $0.87 Fibonacci zone holds, the uptrend will remain intact.