
ENA rebounded 8.8% after Arthur Hayes sold 14 million tokens worth about $2.7 million, but the token remains below its 200-day moving average.
CryptoBullet expects a prolonged correction and identifies 0.122–0.172 as a potential buying zone before another sustained breakout.
Crypto Patel targets $0.25 initially, with longer-term levels up to $3; a break above $0.223 could strengthen the recovery outlook.
Ethena’s ENA token has rebounded 8.8% after Arthur Hayes sold 14 million tokens worth approximately $2.7 million. Analysts CryptoBullet and Crypto Patel have outlined different paths for the token, with both tracking potential gains. However, CryptoBullet expects a prolonged correction, while ENA trades near $0.211 below its 200-day moving average.
https://twitter.com/CryptoPatel/status/2112959601834426860?s=20
CryptoBullet Expects a Longer Correction Before Breakout
CryptoBullet said ENA rose fourfold between July and September, describing the rally as a sign of strength. The analyst classified the move as an aggressive five-wave impulse and expects a correction before another sustained breakout.
According to CryptoBullet, the pullback so far has not been sufficient. The analyst anticipates a prolonged flat correction and identified 0.122–0.172 as a potential buying zone. Meanwhile, ENA’s chart shows a decline from approximately 0.10–0.13 in late April toward 0.07–0.08 by mid-August.
The token then climbed above $0.10 in late August before accelerating toward $0.285 in September. However, October selling pushed it back toward 0.18–0.20 before the recent recovery.
Crypto Patel Maps ENA Targets From $0.13 to $3
Crypto Patel highlighted a possible trend reversal on the higher-timeframe chart and listed $0.13 and $0.25 as initial price targets. The analyst also identified longer-term targets at $0.50, $0.80, $1.25, and $3.
ENA currently trades around $0.211, above its 50-day moving average near $0.197 but below its 200-day average around $0.223. The latter level remains an important resistance area, while 0.197–0.200 provides near-term support.
ENA Network Activity and Resistance Levels Remain in Focus
The chart records major spikes in daily active addresses during June and the August–September rally. Network activity rose alongside the price advance, although recent readings alone cannot establish sustained adoption.
Source: Santiment
A move above $0.223 could open the way toward resistance between $0.234 and $0.250. Conversely, a break below $0.197 could expose ENA to further downside, with $0.180 representing another support level.
