$ENA the chart is starting to match the bigger narrative. 👀
Standard Chartered has initiated coverage on Ethena and set a $2 price target for ENA by end-2028, citing growth in yield-bearing stablecoins, USDe adoption, tokenization and Ethena’s buyback model. USDe is currently around $4.9B, while the bank expects it to reach $40B by 2028.
But the chart is where things get interesting. 📈
$ENA /USDT15M:
• Price: ~$0.264 • Strong breakout from the ~$0.245–$0.250 base • Heavy volume confirms increased participation • $0.270 is the immediate resistance • Above $0.270, the chart opens toward $0.285–$0.300 • A clean breakout and hold above $0.300 would significantly strengthen the short-term structure • Losing ~$0.250 would weaken the setup
At ~$0.264, a move to $2 would represent roughly 7.6x from the current chart price but that remains Standard Chartered’s long-term forecast, not a guaranteed outcome.
Price has reclaimed the $11 area, but the rejection around $12 shows sellers are still active there.
A clean 4H close above $12.00 could strengthen the bullish structure, while losing $10.80 would weaken the setup and bring the lower support zones back into focus.
$ALGO is showing a clear breakout with strong momentum.
After spending considerable time consolidating around $0.116–$0.120, price broke through the $0.122 resistance and accelerated sharply, reclaiming $0.130 with a major volume expansion.
Now trading around $0.1353 (+13.2%), the key levels to watch are:
• $0.138–$0.140 → immediate resistance / breakout zone
• $0.132 → first support after the move
• $0.128–$0.130 → important retest area
• $0.122 → major breakout support
The volume spike is particularly notable: this isn't just a slow grind higher; buyers stepped in aggressively.
Now the market decides whether $ALGO can sustain the move. 👀