Ethena shows a 31.01% weekly gain despite a short-term dip.

The technical chart indicates a double-bottom with a bullish breakout.

StablecoinX plans major ENA accumulation post $360M raise.

Ethena (ENA) is catching the eye of the market by showcasing a noteworthy shift in momentum amidst the broader bullish trends in the crypto world.

While there was a small 6.78% correction in the past 24 hours, the token remains on a positive uptrend trajectory by increasing more than 31.01% in the past week.

At the current price level of $0.4714 with 24-hour volume at $590.52 million and a $2.99 billion market cap, the token indicates surging investor interest and liquidity.

Crypto analyst @hariskhantrader has recently picked out ENA as a promising breakout candidate, observing a “weekly MSB S/R flip,” a ”positive technical indicator where resistance is turned into support. He further added building spot positions on account of the current positive momentum.

Also Read: Ethena (ENA) Price Soars 53%: Is a Surge to $1.52 Next?

Ethena’s Technical Structure Points Toward Further Gains

Analyzing the weekly chart for ENA recognizes a classic double bottom pattern is recognized in the $0.30-$0.35 region, suggesting sharp buying interest and rejection of additional weakness.

A classic reversal setup in and of itself is supported by a structure break (MSB) within the market structure, a definitive sign that the token has shifted from bearish back to bullish.

After closing above major resistance, ENA printed a solid bullish candle, confirming the presence of buyers and suggesting further upside. At present, ENA is trading near $0.4953, having successfully flipped both the $0.40 and $0.45 levels into new support zones.

The chart now targets a key resistance area between $0.80 and $0.95, which acts as a likely destination if momentum continues. Visual chart cues, notably, bold arrows pointing toward this zone, reinforce expectations of an ongoing rally in the weeks ahead.

Institutional Interest Grows with StablecoinX ENA Strategy

As a token of rising institutional confidence in altcoins, a new corporate entity known as StablecoinX has emerged to be the first public company to develop a treasury for Ethena’s native token, Ethena.

The business is set up through the merger between Nasdaq-traded TLGY Acquisition Corp. and SC Assets, a validator startup in partnership with Ethena’s ecosystem.

Powered by a $360 million increase in funds, StablecoinX will actively hold ENA and benefit from its DeFi usage. The new company will list on the exchange under the symbol “USDE” once the merger is closed in late 2025.

The strategic transaction is a milestone in the increasing trend of public companies adding cryptocurrency exposures on their balance sheets, especially altcoins with real-world applications in decentralized finance.

Also Read: Ethena Price Prediction: ENA Eyes Bullish Breakout Toward $0.95

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Filed under: Bitcoin - @ July 23, 2025 1:24 pm