ENA Price Technical Analysis For $1 Possibility?

Currently, ENA is trading at $0.5064, with some analysts predicting it could rise to $1.00. The recent upward trend has enabled ENA to break through significant barriers.

Crossing the upper boundary of the Bollinger Bands is a strong buy signal. If ENA maintains this momentum and trading volume stays high, it could reach higher resistance levels around $0.6562 soon. This breakthrough could trigger a Change of Character (ChoCh) level at $0.6562.

Ethena's market position appears robust at $1.44 billion, with a fully diluted market cap of nearly $7.60 billion and annual revenue of about $150 million.

If Wintermute's proposal is approved, the revenue-sharing model could attract more investors, potentially driving up the price.

Additionally, the breakout from a long-term falling wedge pattern supports the bullish outlook.
Since emerging from this pattern in mid-September, ENA's price has been rising along an upward trendline, characterized by higher lows and higher highs, both bullish indicators.

If current market conditions continue, ENA could challenge the psychological $1.00 resistance level in the coming weeks.