Price Analysis View Non-AMP

Ethena Price Aims $1 With Golden Cross & Whales Stashing Big

Published by
Yash Jain

The Ethena price is making waves in Q3, which are mainly fueled by whale accumulation, rising USDe demand, and major technical breakouts. With the token recovering quickly despite its recent token unlock event, it is surprising that the market appears increasingly confident in ENA crypto’s long-term prospects. Also, experts and investors alike are hoping for a potential breakout above $0.70 that could set the stage for a rally to $1.

ENA Shows Strong Resilience Amid Token Unlocks

As it was evident on the daily chart, the month of July was magnificent, as Ethena price saw a significant surge from lows of $0.23 to a peak of $0.70, placing it among the most bullish performers in the altcoin market. 

Even after this rally, the retracement was limited, which showcased its underlying strength to hold on to its recently achieved gains. In early August, it further reinforced its resilience when ENA bounced off the $0.52 support zone despite a massive token unlock event.

Investors showed little concern over the unlock, but that was not enough to hold its rally, which is now signaling strong confidence in the project’s fundamentals. 

Even whale investors doubled down on ENA when an analyst revealed his observation that wallet addresses holding between “10 million and 1 billion ENA” have collectively stashed over 1 billion tokens, and now totaling 6.3 billion ENA. This was a well-strategized accumulation and signifies bullish strength in ENA.

Rising Demand for USDe Adds Fuel to the Fire

Alongside whale interest, demand for USDe continues to grow, with total supply now reaching $9.612 billion and approaching the $10 billion threshold, per DefiLlama. This sharp uptick in demand underscores investor confidence in Ethena’s ecosystem.

Supporting this momentum, Ethena Labs announced today that AAVE increased the caps for sUSDe and USDe to $350 million and $300 million, respectively. This decision helped push the Ethena price today over 5% higher on an intraday basis to trade at $0.63, bringing it closer to its July peak of $0.70.

ENA/USD Chart Signals Imminent Breakout

The ENA/USD chart on Binance is reflecting positive momentum as the price climbs toward July highs. Technical indicators across the board are flashing bullish signals. 

The CMF has turned positive today at 0.01, revealing rising money inflows and positive sentiment among investors.

Similarly, the AO and MACD both show increasing momentum with rising histograms. 

Likewise, the RSI is now at 63.95, indicating strength with room for further upside. 

On a structural level, the chart recently formed a golden cross between the 50-day and 200-day EMAs, which is a classic signal of long-term bullish momentum.

Moreover, the price action broke out of a falling wedge pattern this week, which historically precedes bullish moves. 

If ENA flips the key resistance at $0.70, many expect the rally to extend toward the psychological $1 mark, strengthening the Ethena price prediction outlook.

Yash Jain

Yash is a crypto analyst specializing in price analysis, predictions, and in-depth research reports. He combines technical indicators with on-chain data to uncover market trends and potential breakouts. His sharp insights help readers navigate the crypto market with confidence. Whether it’s Bitcoin or emerging altcoins, Yash breaks it down with clarity and precision.

Recent Posts

Why Is XRP Price down Today?

The crypto market took a hard hit on Monday, losing 4% in value and billions…

September 22, 2025

PayDax Protocol (PDP) Builds a Borderless Bank for the Next Generation of Finance

Imagine a world where a rare painting in Paris, a gold bar in Dubai, and…

September 22, 2025

Top 4 Cryptos That Could Spike in the Upcoming Altcoin Season

Every crypto cycle brings back the same question: which altcoins will take center stage this…

September 22, 2025

Metaplanet Pushes Bitcoin Holdings Past $2.7B

Metaplanet has expanded its Bitcoin stash with a fresh purchase of 5,419 BTC worth $632.5…

September 22, 2025

Which Crypto To Buy As Forward Industries Files $4 Billion Equity Program, Targets Solana Treasury Expansion

Forward Industries is filing a $4 billion at-the-market equity program with the U.S. Securities and…

September 21, 2025

From $0.024 to $1? Why BlockchainFX ($BFX) Leads the List of Top Cryptos to Invest In Alongside Fartcoin

Have you ever wished there was one coin that rewarded you just for holding while…

September 21, 2025