ENA Faces Rejection? TD Signal Hints Drop Toward $0.35

 Key Insights:

• TD Sequential sell signal suggests ENA may face rejection near $0.47 after strong rally.
• Support levels at $0.44 and $0.41 could fail, risking drop to $0.35 if momentum fades.
• Breakout from channel above $0.4700 offers hope; holding above may target $0.4850 short-term.

Ethena (ENA) was showing signs of hesitation after a strong upward move. On the 4-hour chart, the TD Sequential indicator has flashed a “9” count, which often appears near local tops. This signal is now visible around the $0.47 mark, a level that previously acted as resistance.

The price moved from $0.38 to $0.4522 before slowing. The pattern matches past behavior—specifically on October 13—when a similar signal preceded a pullback. Current movement is showing smaller candles and fading momentum just below the $0.47 ceiling.

Price Faces Risk of Pullback Toward $0.35

A chart shared by Ali Martinez shows a dotted projection where price may fall if $0.47 holds as resistance. Initial support is seen near $0.44 and $0.41. A drop below these levels could expose $0.35. The chart points to this level as a possible target if sellers gain control.

The setup doesn’t confirm a reversal yet, but if the price fails to stay above $0.44, pressure may build. “If this rejection holds, $0.35 may not be far off,” one analyst suggested. Traders are watching for confirmation over the next few candles.

Short-Term Breakout Offers a Different View

A separate 15-minute chart shared by Trader Rai shows a clear breakout from a descending channel. ENA surged past $0.4700, a level that previously acted as a cap on rallies. This move could signal a shift in short-term trend direction.

If price stays above $0.4700, short-term targets of $0.4780 and $0.4850 are in play. Support now sits around $0.4600. Buyers holding that zone would keep the breakout structure intact. The quick push out of the channel points to increased demand.

Current Price Action and Market Focus

ENA was trading at $0.4921, up 6.8% in the past 24 hours. The 7-day gain stands at 33.8%, with trading volume near $368 million. Short-term price action is mixed, with signals pointing both ways.

$0.4700 remains the key level. Holding above it favors continuation toward $0.4850. A close below $0.44 may support the bearish case and raise the chance of a return to $0.35.