Ethena (ENA) price has surged by 11% following a proposal to integrate Ethereal, a decentralized exchange, into Ethena’s reserve management system. This integration is expected to bolster Ethena’s trading capabilities and drive further growth.
Key technical indicators show that the upward trend in ENA’s price is gaining strength, yet it hasn’t reached overbought conditions. The Relative Strength Index (RSI) stands at 54.40, indicating there is still room for further gains.
With bullish momentum dominating over bearish pressure, the Directional Movement Index (DMI) also signals a strong upward trend for ENA. The Average Directional Index (ADX) at 42.0560 points to very strong price momentum.
Despite the recent price increase, ENA faces minor resistance between $0.41 and $0.46. There is potential for the price to rise further to a new resistance zone between $0.46 and $0.65, indicating a potential 66% increase from current levels.
If the current trend reverses, ENA has weaker support between $0.32 and $0.36. A failure to maintain above $0.32 could lead to further price drops, potentially testing as low as $0.25.
![Ethena [ENA] surges 36% – Will the next $0.46 target break?](https://loutre.blockchair.io/w4/storage/news/2d065a81e30cf52ab74493b9ec97beaa.png){kind=small}
