- ENA explodes 44% following powerful Aave DeFi integration news.
- Bullish momentum grows as ENA breaks past key resistance level.
- Trading volume surges 60% as investors chase rising ENA token.
Ethena’s ENA token has jumped over 44 percent in the past week, supported by rising trading activity and new DeFi integrations. The token gained 13 percent in the last 24 hours, pushing its price to $0.6736 and its market capitalization above $4.28 billion.
According to CoinMarketCap, ENA is still 55 percent below its all-time high of $1.52. Nevertheless, the recent momentum indicates that the token is trying to break out after the substantive updates to the ecosystem and increased investor activity.
The fact that Ethena has made another step toward bolstering its functional capabilities by integrating with Aave, a leading decentralized money market, contributed to the rally of the price.
This is a functionality that enables users to deposit 50 percent USDe and 50 percent sUSDe in Aave, and couple a mix of reward mechanisms that consist of staking returns, Aave lending incentives, and bonuses estimated to be at approximately 12 percent per annum.
An upsurge in user participation in this aspect has also contributed to an increase in the trading volume, which has increased by more than 60 percent and aggregated to $1.46 billion. Such a sharp increase enables an increased interest in the market, which was another factor contributing to the elevated price pressure on ENA.
Parallel with the integration of DeFi, Ethena has made progress in regulatory enhancement. This month, the project listed a collaboration with Anchorage Digital, a federal crypto bank in the United States, to launch its USDtb stablecoin within the country.
The reorganization comes after the presentation of the GENIUS Act and commits Ethena to comply with regulations in the stablecoin market.
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Bullish Chart Signals Confirm Market Optimism
On the technical front, ENA is showing strong momentum as it breaks out from a bullish wedge pattern. The token has broken the $0.60 resistance level and is currently testing the psychological resistance of $0.72. In case of breaking through, the following resistance lines appear at the $0.88 and $1.05 levels.
Momentum indicators are also positive, as the MACD indicates a bullish crossover while the rising histogram shows intense buying pressure. The Balance of Power indicator stands at $0.73, another indication that buyers are still in control.
The price has also broken over the upper Bollinger band, which is given as an indicator of high interest and volatility in the market. Otherwise, the failure to maintain above the price of $0.60 might result in a reversal toward the $0.49 and $0.50 level, a previous price consolidation zone.
Ultimately, this is taking place at a time when the Ethena ecosystem has become more active, and institutional interest in it is expanding. With technical signals aligned and trading volume rising, the Aave integration appears to have triggered renewed confidence in the token’s short-term outlook.
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