Ecena doesn’t just raise prices. Something big is happening behind the scenes. Its synthetic dollar, USDE, is growing rapidly and is now the third largest stubcoin in Ethereum. This strong growth has led to a 15% increase in price for Enera, returning beyond key levels. But at the same time, a huge number of ENA tokens have been sent to exchange. The big question is whether Ethena prices continue to rise or whether selling is turning the corner.
Ecena price forecast: USDE will skyrocket in major leagues
The biggest story behind Ena’s breakout is not on Ecena’s price chart. That’s what’s happening on-chain. Ethena’s synthetic stub coin, USDE, climbs up and becomes the third largest stub coin in Ethereum, tracking only USDT and USDC. This isn’t just a headline, it confirms that USDE is Defi’s main player. Over the past month, Supply has grown by 75%, making it clear to the user demand and driving across the protocol.
What does this mean for ENA prices?
This rapid growth will directly feed ENA’s value. As it is a native asset powered by the Ethena ecosystem, the more USDEs are used, the more important the ENA becomes. Today’s 15% price jump reflects its fundamental demand. The $0.61 level plays after a powerful upside down push, suggesting that traders are beginning to set prices at this momentum.
Why did 250 million ENAs move to the exchange?
There is one important variable that changes the short-term narrative. Approximately 250 million ENA tokens have been sent in exchange over the past two weeks. It’s not a minor shuffle. This is a potential signal of future sales pressure. This move can mute any rallies, especially before approaching a known zone of resistance. Even if fundamentals improve, uncertainty is introduced.
Chart Signal: to breakout building or bull trap destination?
On the Daily Highkin Asi Chart, ENA Prices are trading above the 20-day SMA and holds support of nearly $0.56. The price is $0.622 and is pushed against a critical resistance wall. If this is reversed to support, the next target will be an upper bollinger band that is close to $0.70. More than that, the Fibonacci expansion zone places the next logical upside between $0.84 and $0.98.
The trend is still constructive, but fragile. Bulls have a clear advantage as long as ENA prices are above the $0.55 range. A breakdown of less than $0.50 is a structural shift and can cause deeper retraces.
Ecena price forecast: What’s coming next?
USDE’s growth has set a long-term bullish tone on Ethena’s prices. However, the influx of tokens to be exchanged for the time being complicates the outlook. If Momentum follows with $0.622 inverted into solid support, Ethena Price could soon rise to $0.70, with an extension move to $0.85 still on the table.
If resistance is true and the market responds to the possibility of a sale, the integration phase can be carried over with support tests of $0.56 and nearly $0.50.
Esena is entering a new phase. That Stablecoin has gained real market share and ENA is compatible. However, as the large owners move behind the scenes, the next few days will decide whether or not there will be a foot in this rally. Turn to $0.62 breakouts and exchange wallet activities. That’s where the real story unfolds.
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