Ethena (ENA) is capturing renewed attention as it bounces back from a mid-October flash crash, signaling strong investor confidence and a potential surge in the crypto market.
After plunging to $0.14 earlier this month, ENA has recovered nearly 200%, fueled by institutional buying and renewed trading activity. Analysts suggest that this rebound may set the stage for further gains if support levels hold.
ENA Price Rebounds Strongly After Flash Crash
Ethena (ENA) has staged a remarkable recovery following a steep price drop earlier this month. On October 10, ENA fell to $0.14, triggering a wave of liquidations across major exchanges. However, institutional investors quickly entered the market, driving the token nearly 200% higher from its lows.
As long as ENA holds above key support, the setup suggests a potential 230% upside following a liquidity flush that cleared weak hands. Source: BandForBands on TradingView
Analysts highlight that this rebound demonstrates strong demand for ENA crypto despite prior volatility. As long as ENA respects support, there remains a clear path for further upside. The token currently trades around $0.46, reflecting a 2.65% intraday gain, after testing a short-term trendline support near $0.40.
Key Technical Levels and Price Targets
Traders are keeping a close eye on ENA’s Fibonacci support and demand zones. Entry bids are recommended around $0.458, with stop-loss orders slightly below recent lows to manage downside risk. The immediate price target lies between $0.50 and $0.52, aiming to fill a fair value gap.
ENA’s 4H chart shows a bullish setup targeting the supply zone to fill the fair value gap. Source: Popeye
“Placing stops below support while letting the setup play out is critical,” explained the analyst. “Major liquidation wicks often clear weak hands, setting the stage for the next leg up.”
Technical indicators suggest that a break above the $0.65 horizontal resistance could open the way for a potential rally toward $1.30 and possibly $1.51, if momentum continues. Conversely, failure to breach this resistance may trigger a consolidation phase or a retest of support near $0.20.
Institutional Buying and Market Resilience
Institutional accumulation has been a key driver of ENA’s strong performance. Rising network fees, steady funding rates, and robust total value locked (TVL) underscore the growing strength of the Ethena ecosystem. Despite a 25% decline in TVL from its all-time high of $14.97 billion, ENA retains significant market trust, outperforming many altcoins that have struggled under similar conditions.
Ethena was trading at around $0.47, up 3.96% in the last 24 hours at press time. Source: Brave New Coin
According to DeFiLlama, Ethena’s cumulative fee revenue recently hit $578 million, reflecting increasing activity on the protocol. This growth is partly driven by the adoption of Ethena’s stablecoin, USDe, which has seen rising user engagement even during periods of market correction.
Exchange Activity and Community Support
Recent trading data highlights ENA’s relative strength. On OKX, ENA trades at $0.493 with a 2.9% gain and $507 million in volume, outperforming peers such as OKB and AAVE. Community sentiment has also been positive, especially following Ethena’s team expansion announced on October 21, 2025, and the integration of new products, including Caldera.
ENA shows notable strength with bullish momentum building across key technical levels. Source: Zoomer Oracle via X
MEXC’s ongoing ENA Extravaganza event, which runs from October 21 to November 20, offers zero-fee trading and a $1 million prize pool. Analysts believe such events can enhance liquidity and amplify short-term momentum, further supporting the bullish narrative for Ethena crypto.
Outlook and Price Prediction
Overall, the combination of institutional buying, rising fees, neutral funding rates, and protocol resilience points toward a potentially constructive setup for ENA. Analysts suggest that as long as ENA maintains support, the token could see a 230% upside, with immediate targets around $0.50-$0.52 and further potential toward $1.30.
Market watchers note, however, that volatility remains a key factor, and traders should remain cautious while monitoring support and resistance levels closely.
