Assessing ENA’s breakout odds as Ethena retests $0.136

Ethena [ENA] had reached a neighborhood excessive of $0.136 on Friday, the seventeenth of April. On the time of writing, the altcoin was buying and selling close to the identical excessive as soon as once more, however has been unable to breach it.

A month in the past, AMBCrypto had reported that the upper and decrease timeframe bias for ENA had been bearish. A break of the $0.095 and $0.12 highs would shift the 4-hour and 1-day timeframes bullishly.

This bullish shift has come to move in current weeks. With ENA bulls knocking insistently on the doorways of the subsequent resistance at $0.136, ought to merchants be betting on continued bullish momentum or count on a rejection?

Ethena has established an uptrend

The swing excessive at $0.12 on the each day timeframe produced the brand new swing low (inexperienced) at $0.765, conserving the market construction bearish within the course of.

In April, when Bitcoin’s [BTC] bid to climb to $80k faltered at $76k, ENA bulls registered a bullish structural break with a each day session shut above $0.12.

Since then, a minor pullback to the $0.1 spherical quantity demand zone ($0.0988 to be actual) was adopted by one other rally previous the $0.12 degree.

The Ethena value construction and the DMI each signaled an uptrend in progress. Nonetheless, the quantity indicators solid some doubt on this bias.

The A/D was in an lively downtrend, and the OBV was not near breaching the mid-April highs.

Merchants’ name to action- Keep bullish

The 4-hour chart appeared to point out a variety formation between $0.10 and $0.13. The mid-range degree at $0.115 has been revered as help throughout the newest leg larger, reinforcing the argument.

But, the worth has closed an H4 buying and selling session above the vary highs. This indicated additional bullishness was extra possible than a pullback.

Merchants could be cautiously bullish and handle their threat accordingly if trying to go lengthy. Invalidation of the vary breakout can be an H4 session shut again beneath $0.128, the decrease timeframe’s larger low.

Bitcoin volatility over the weekend or on Monday can disrupt ENA’s bullish bias.

Last Abstract

• Ethena has established a bullish construction on the 1-day chart after being in a downtrend since October 2025.
• The present bullish momentum is momentarily on the $0.13 native highs, however appears to be like extra prone to proceed larger than retrace.