- ENA breaks a long-term trendline as higher lows form, showing renewed strength supported by consistent buying and a confirmed structure shift.
- Market cap climbs from under $1.8B to above $2.1B, matching steady price gains and reinforcing continued demand throughout the trading session.
- An Ethena Labs-linked address acquires 25 million ENA, increasing holdings to 285.15 million and signaling major accumulation within the current cycle.
ENA Breakout draws attention as market activity around the token shows renewed strength after an extended period of muted trading. Price structure, market cap behavior, and on-chain movement all point to a notable shift in momentum within the past day.
Technical Break Above Trendline
ENA price moved above a long-standing descending trendline after several weeks of fading rallies. This advance followed a pattern of higher lows, suggesting that earlier selling pressure was losing force.
After the breakout, the chart projected an upside target near 0.37 USDT. This target reflects a potential move of almost 50% from the breakout zone between 0.245 and 0.25.
The analysis noted that resistance around 0.28 to 0.30 was being tested. A sustained hold above this area was viewed as essential for maintaining the developing bullish structure. However, the post also referenced the possibility of fakeouts during early reversals.
Intraday Price Action Shows Consistent Buying
A separate chart from CoinGecko displayed a steady intraday climb from slightly above 0.24 toward the 0.28 region. The move progressed in controlled waves, forming higher highs and higher lows throughout the session.
This behavior pointed to a session led by persistent buying interest.The recovery suggested that short-term buyers were prepared to defend the developing structure.
Momentum accelerated as trading moved toward the peak near 0.28.Volume increased gradually across the session, supporting the upward trend.
The session ended with a brief consolidation phase, which often occurs after strong directional moves. The mid-range zone between 0.26 and 0.27 remained important for short-term structure.
Market Cap Growth Accompanies On-Chain Activity
The 24-hour market cap chart showed a rise from below $1.8 billion toward levels above $2.1 billion. The climb unfolded in a steady pattern that aligned with the broader price movement.
Even during mid-session pullbacks near $1.9 billion, support returned quickly.Later gains carried market cap through the $2 billion level before a controlled correction near the session’s close.
Volume trends also moved upward, indicating continued participation throughout the period. The structure remained constructive despite the slight end-session pause. On-chain data added that an address linked to Ethena Labs acquired 25 million ENA from Bybit, valued at $6.7 million. The address now holds 285.15 million ENA worth $76.46 million, marking a notable position within the circulating supply.
