- ENA price of Ethena is above the support level of $0.4173 but still has a decrease of 3.8% per day, which is a sign of short-term stability.
- At resistance of 0.4597, continues to be important; on breaking out, the pattern would be a higher-high trend towards 1.30.
- ENA has a moderate strength against BTC and ETH, indicating stable positioning as the traders wait to pass through a wider recovery period.
Ethena, whose native token is ENA, has recently been experiencing structural recovery following price weakness. The token is trading at an amount of $0.4357 which is a 3.8 percent reduction compared to the previous 24 hours . Although the market data show a down turn, it indicates that there is a stabilization pattern emerging around the short-term support.
Current momentum places ENA within a key technical zone, suggesting a potential higher-high formation if buyers maintain control. The chart structure indicates a gradual recovery path that could test upper resistance levels in the coming weeks.
Support and Resistance Define Short-Term Outlook
At present, support stands at $0.4173, acting as a critical base for short-term market structure. Price movement below this area may weaken the recovery setup. On the upper side, resistance is located at $0.4597, which has capped multiple intraday advances.
This level is currently a major technical level being followed by traders in confirming the resurgence of purchase force. Trading range is limited, and consolidation is the issue at hand as the players measure the short-term direction.
Strength Builds as Higher High Formation Emerges
Notably, the 12-hour chart indicates a potential higher-high setup developing from recent lows. If sustained, this structure could position ENA toward a measured rebound. The technical chart indicates that the project path will result in an upside target of around $1.30 which is next to the second major resistance band.
Nevertheless, a steady movement beyond the range of the mid-range of around 0.62 would be necessary to verify the strength in the market at large. Current trading activity reflects moderate volume, supporting gradual accumulation behavior.
Reaction in the Market and Wider Context.
Compared to other exchanges, ENA is trading 0.053911 BTC and 0.0001075 ETH with slight returns of 2.9% and 2.0%, respectively. These cross-market levels underline steady positioning relative to larger assets. As the price steadies around current support, traders are closely monitoring whether buying momentum sustains through late October. The evolving structure suggests potential for continued range development before the next directional breakout attempt.
