Ethena jumps 25% on Upbit listing announcement, eyes a move towards $0.46
2025-07-11 10:27:08
Main Idea
Ethena's price surged 25% following its listing on Upbit, with potential for a breakout above $0.46, driven by increased trading volume and broader market trends.
Key Points
1. Ethena's price increased by 25% in 24 hours, reaching $0.37, with trading volume surging over 300%.
2. The price surge follows Ethena's listing on Upbit, which added trading pairs for KRW, Bitcoin (BTC), and Tether (USDT).
3. Ethena is testing a descending triangle pattern, with a potential breakout above $0.46 if it holds the $0.30 support level.
4. The broader crypto market rally, including Bitcoin's new all-time high above $118,000, likely contributed to ENA's price increase.
5. Recent token unlocks, including 171 million ENA tokens worth $63 million, have not significantly impacted the price, with support holding at ~$0.24.
Description
Ethena price jumped 25% on the Upbit listing announcement, edging closer to the top of its trading range and targeting a potential breakout above $0.46. Ethena ( ENA ) price is up 25% in the past 24 hours, currently trading at $0.37, with trading volume surging over 300%. With this surge, ENA price has now broken above the upper trendline resistance of a descending triangle pattern that had been forming since mid-May. The descending triangle, typically a bearish continuation pattern, has instead...
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