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.
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’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.
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.
Strong TVL growth, USDe’s stablecoin milestone, buybacks, and whale accumulation have boosted ENA’s price.
Upside targets are $0.8741 and $1.02; support sits at $0.7046, $0.5638, and $0.4764.
RSI shows it’s approaching overbought territory but still has room for short-term continuation.
Crypto markets are buzzing with bold predictions as the bull cycle continues to unfold, and…
Meme coins haven’t lost their charm, but they’ve definitely evolved. Shiba Inu and Pepe Coin…
Late-2025 is shaping up to be a big test for the majors. Solana has traders…
From bold XRP price prediction headlines to fresh Pi Network news, 2025 has no shortage…
Crypto investors are keeping a close eye on Pi network updates, as nearly 50% of…
The Cardano Price has been in the spotlight this week, with the project nearing possible…