Ethena prepared for $2.44 target, but THIS is keeping ENA back – BitRss

• Ethena was trading within a daily bullish cup and handle pattern at press time, signaling the potential for a new all-time high.
• However, large investors have yet to fully step in — this leaves room for further upside.

Ethena [ENA] is one of the few assets in the market that have been recording positive gains across all time frames. Over the past week and month, it has posted gains of 26.05% and 18.64%, respectively.

In the last 24 hours alone, ENA has shown upward movement with a modest gain of 0.97%. Given its current price action, and trader sentiment, there is a strong likelihood of further upward momentum.

Strong bullish outlook as demand set to rise

ENA’s current market structure suggests the potential for a significant rally in the coming days, potentially establishing a new all-time high.

On the chart, ENA was trading within a cup and handle pattern at press time, a classic bullish formation that often precedes a rally.

To confirm the breakout, ENA must first surpass the $1.32 resistance line (marked in black). Once this level is breached, the anticipated upward move could begin.