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Ethena crypto is testing a key multi-month support area following an extended decline. Buyers are showing initial interest in this zone, while analysts have key reactions on various timeframes.
The market is still sensitive. However, there are now technical indications that conditions might be right for a short-term rebound.
Ethena Crypto Price Holds Critical Support Zone
World Of Charts mentioned that the ENA price has entered a critical horizontal area after months of falling. The zone has served as support several times, and the token is again reacting at this level.
The analyst says lower timeframes display the signs of early strength. This could help stabilize the chart if buyers continue to defend the horizontal floor.
He pointed out that the Ethena crypto price has tapped into a rising trendline. This trendline has been in place since mid-2024. This line follows a broader area of demand.
The reaction sent the token slightly higher intraday, demonstrating that traders still respect the support. A clean rebound could be formed if the ENA price closes above this zone.
Strong Market Reaction in the Liquidity Area
Similarly, PumpDaddy said that the Ethena crypto has finally broken back to that liquidity pool. It has been attracting the price action for several weeks. The analyst said buyers are stepping in and that reactions within this zone look clean.
He adds that the structure is intact despite the recent sell-off, which supports the possibility of a bounce. He also outlined definite upside targets based on previous reaction zones.
The first target is close to $0.538, and the next two are $0.654 and $0.870. PumpDaddy’s chart has a well-structured stair-step pattern. Each level marks previous inefficiencies that could attract a price if Ethena crypto confirms a sustained recovery.
Downside Risk Persists Near Key Support
Interestingly, AltcoinSherpa has a more conservative view on the ENA price. The analyst said the token is fundamentally strong but still under pressure from unlock schedules and a general altcoin weakness.
He believed that the Ethena crypto price can reach the $0.20 area if selling continues at near current levels. He pointed out that all coins must “fight gravity” in a bear phase.
The analyst’s weekly chart showed a long-term horizontal support level dating back to 2023. ENA price is floating just above this area.
A clean bounce is possible. However, the chart displayed multiple failed attempts to regain higher levels since August. This leaves some downside risk active on higher timeframes.
Demand Zone Signals Possible Reversal
Meanwhile, Osemka noted that Ethena crypto has now entered the weekly demand area after closing the former gaps. The analyst observes a third tap in the rising diagonal trendline.
He says this area has reactivated strongly repeatedly during past cycles. A reclaim of the 200 EMA on the 4-hour chart is the signal he wants to see for momentum confirmation.
He also noted that RSI has been in a steady downtrend and is exhibiting a possible reversal structure. The indicator is approaching oversold territory across multiple timeframes.
If RSI breaks its descending trendline, it could help bullish momentum. Osemka emphasizes that the structure remains valid as long as ENA is above the identified demand block.
