ambcrypto.com
27 October 2026 05:01, UTC
Ethena [$ENA] has shown relative bullish strength against major large-cap altcoins. The crypto has rallied by 8.66% in the past 24 hours, compared to Bitcoin’s [BTC] 0.16% gain and the altcoin sector’s 0.40% move higher.
The Open Interest behind Ethena in perpetuals markets has increased by 15.30%. Yet, the Spot CVD remained in a stubborn downtrend in recent hours, a signal from Coinalyze data that Spot demand was relatively weak.
Point your phone camera to install
4.8 based on 40K reviews in the App Store and Google Play
The Funding Rates were positive, too, showing market participants maintained a bullish view overall. Recently, it was reported that a $1 billion buyback could fuel an $ENA charge back above $0.30.
In recent weeks, Ethena has seen a downward price slide alongside the wider crypto market but maintained a bullish longer-term bias.
The weekly swing structure flipped bullishly when the $0.263 swing high from December 2025 was breached in September. A weekly session close above it, despite the drawdown since then, confirmed a structure break.
Despite recent losses, the RSI remained above neutral 50. The CMF was yet to climb past +0.05 but has recovered from the deeply seller-dominated trends that were in place for most of 2026.
The $0.263 and $0.140 support levels are the key levels for long-term investors to watch.
Since making local highs at $0.294, Ethena has been in a decline on the price charts. The descending trendline resistance (orange) on the 4-hour chart captured the downtrend.
The Fibonacci retracement levels highlighted $0.169 as a key support. Meanwhile, the $0.171-$0.187 demand zone from late August also added confluence for a bullish price reaction.
Swing traders can wait for a price reaction from this area, preferably in the form of a trendline resistance break, before buying. On the other hand, a 4-hour trading session close below $0.169 would be a warning sign of further drawdown.
