Ethena Moves Above Resistance Levels With Strong Volume, What It Mean?

• Ethena breaks key resistance levels, supported by rising volume, signaling potential long-term growth in the bullish zone.
• Ethena Labs’ innovations, including USDtb, enhance scalability and liquidity across Ethereum, Solana, and Arbitrum with cross-chain solutions.

Ethena (ENA) has gained traction among cryptocurrency aficionados, notably following a bullish analysis by prominent TradingView analyst Alan Santana. Supported by growing volume and a bullish market trend, Santana notes Ethena’s price movement is surpassing important resistance levels.

With the current price lingering around $1.15, this breakthrough above the long-term resistance range of $1.04–$1.11 points to a bullish zone that can perhaps result in long-term development.

Clear Signs for ENA Long-Term Potential 

Santana underlined the need of closing above the $1.11 mark, therefore verifying the continuation of the bullish trend. He also underlined how simple it is to trade Ethena’s present chart configuration and hinted that stop losses might be positioned on the chart below the important blue line.

“I would buy and hold long-term because resistance is being broken, prices are rising, and volume is going up,” he noted, therefore underlining his hope for Ethena’s direction.

Meanwhile, ENA is swapped hands at about $1.02 at the time of writing, a 13.85% correction over the last 24 hours notwithstanding this bullish future view. The market cap comes to almost $3 billion. This fall stands in stark contrast to Santana’s positive stance, but it could be a brief pullback inside a more general bullish trend.

Complementing Ethena’s momentum, Coin News Flash (CNF) previously reported the release of USDtb, a stablecoin developed by Ethena Labs supported by BlackRock’s BUIDL fund.

While running over several blockchains, including Ethereum, Solana, and Arbitrum, this stablecoin promises scalability and strong liquidity. Driven by LayerZero’s cross-chain technology, USDtb supports Ethena’s creative approach to decentralized finance.