Ethena retraces into $0.170 golden pocket – Here’s what buyers need to know

Ethena [ENA] has proven relative bullish power in opposition to main large-cap altcoins. The crypto has rallied by 8.66% up to now 24 hours, in comparison with Bitcoin’s [BTC] 0.16% achieve and the altcoin sector’s 0.40% transfer increased.

The Open Curiosity behind Ethena in perpetuals markets has elevated by 15.30%. But, the Spot CVD remained in a cussed downtrend in current hours, a sign from Coinalyze knowledge that Spot demand was comparatively weak.

The Funding Charges have been optimistic, too, exhibiting market individuals maintained a bullish view general. Not too long ago, it was reported {that a} $1 billion buyback may gasoline an ENA cost again above $0.30.

In current weeks, Ethena has seen a downward worth slide alongside the broader crypto market however maintained a bullish longer-term bias.

The September rally shifted the long-term ENA bias

The weekly swing construction flipped bullishly when the $0.263 swing excessive from December 2025 was breached in September. A weekly session shut above it, regardless of the drawdown since then, confirmed a construction break.

Regardless of current losses, the RSI remained above impartial 50. The CMF was but to climb previous +0.05 however has recovered from the deeply seller-dominated developments that have been in place for many of 2026.

The $0.263 and $0.140 assist ranges are the important thing ranges for long-term traders to observe.

Merchants’ name to motion – Look forward to a bullish response

Since making native highs at $0.294, Ethena has been in a decline on the worth charts. The descending trendline resistance (orange) on the 4-hour chart captured the downtrend.

The Fibonacci retracement ranges highlighted $0.169 as a key assist. In the meantime, the $0.171-$0.187 demand zone from late August additionally added confluence for a bullish worth response.

Swing merchants can look ahead to a worth response from this space, ideally within the type of a trendline resistance break, earlier than shopping for. Then again, a 4-hour buying and selling session shut beneath $0.169 could be a warning signal of additional drawdown.

Remaining Abstract

• Ethena was one of many best-performing altcoins for the day within the high 40 crypto property by market capitalization, with practically 9% beneficial properties up to now 24 hours.
• The altcoin was in a retracement part and testing a pivotal demand zone that stretched all the way down to $0.169.