Price Analysis
  • Shrishesh Tanksalkar
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    Shrishesh is a versatile writer with 2+ years of experience in cryptocurrencies. An engineer turned storyteller, this selective introvert is a wannabe biker on weekends.

    • 1 minute read

    Ethena Price Surges 40% Weekly as TVL Breaks $10B

    Story Highlights
    • ENA price jumps 40% in 7 days as Ethena’s TVL crosses $10B for the first time.

    • USDe becomes the 3rd largest stablecoin after the U.S. policy shift.

    • Whale accumulation and $5M daily buybacks fuel bullish momentum.

    Ethena price has staged a strong 40.03% rally this week, and 11.59% in the last 24 hours, trading at $0.8406. The moonish surge aligns with Ethena’s TVL hitting a record $10 billion, alongside a major milestone for its synthetic dollar, USDe. Which recently became the 3rd largest stablecoin by market capitalization. 

    Successively, $5M daily ENA buybacks are reducing circulating supply, creating scarcity. Plus, whale addresses holding 100k-1M ENA grew 12% in July, now controlling ~30% of supply. Wondering where the ENA price could head next? Join me as I decode the same in this analysis.

    On-Chain Analysis

    Ethena’s TVL has reached an all-time high, surpassing $10B as of August 9, 2025, according to Messari. This marks a significant influx of capital into the protocol, reflecting growing investor confidence and adoption of its DeFi products. The TVL rise has tracked closely with ENA’s price recovery from multi-month lows, suggesting that capital inflows may be leading price action. 

    ENA TVL 11-8-25

    ENA Price Analysis

    ENA’s recent price breakout came on August 10th, when it surged 13.7% from $0.64 to $0.7277, breaking out of a bullish flag pattern. The rally has since extended toward $0.8493, today’s high, with the price currently consolidating around $0.84.

    Technical indicators point to strong momentum, the RSI-14 at 74.76 suggests the market is nearing overbought levels, though not yet extreme. This is while the shorter-term RSI-7 at 81.81 indicates high short-term enthusiasm. MACD, on the other hand, has confirmed a bullish crossover with the histogram turning positive at +0.010557.

    ENA Price Analysis 11-8

    Talking about price targets, the key upside targets are at $0.8741 at Fibonacci 127.2% and one at $1.02. However, $29.8M worth of ENA moved to exchanges on August 9–10, which could introduce near-term volatility. On the downside, a close below $0.7046 could trigger profit-taking toward lower supports at $0.5638 and $0.4764.

    FAQs

    Why is the ENA price surging now?

    Strong TVL growth, USDe’s stablecoin milestone, buybacks, and whale accumulation have boosted ENA’s price.

    What are the key levels to watch for the Ethena price?

    Upside targets are $0.8741 and $1.02; support sits at $0.7046, $0.5638, and $0.4764.

    Is ENA overbought?

    RSI shows it’s approaching overbought territory but still has room for short-term continuation.

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