I Hope You Bought Ethena, Says Crypto Veteran – Here’s His ENA Price Outlook

ENA is finally starting to show some life after weeks of steady downside pressure. On the 8-hour chart, the price has pushed out of a clear falling wedge, a pattern that usually shows up near the end of a correction.  Captain Faibik pointed out that the breakout is already confirmed, and that alone makes this setup worth paying attention to. What makes this move interesting isn’t just the breakout itself, but the way it formed. The ENA price spent a long time compressing inside a narrowing range, which usually means sellers are losing control rather than gaining it.

• What the ENA Chart Is Telling Us
• Why This Breakout Matters for ENA
• What to Watch Next for ENA

What the ENA Chart Is Telling Us Looking at the structure Faibik shared, ENA had been trending lower for a while, printing lower highs and lower lows inside the wedge. That showed consistent selling, but also fading momentum. Each push down became weaker than the last. Over the past several sessions, that dynamic started to change. The ENA price stopped breaking down and began moving sideways near the lower boundary of the wedge. 

Source: X/@CryptoFaibik

Instead of rolling over, ENA held its base and eventually pushed through the upper trendline. That kind of move often signals that buyers are finally absorbing supply. The breakout itself was clean. The price didn’t slowly grind above resistance, it pushed through and stayed there. That usually marks the shift from a corrective phase into the early stages of recovery. Read Also: Cardano Price Prediction: ADA Is Flashing a Familiar Setup Why This Breakout Matters for ENA Falling wedges tend to resolve higher, especially when they appear after extended declines. In ENA’s case, the pattern developed over several weeks, which gives the breakout more weight. The measured move on the chart indicates a potential upside of around 70%, with the next major area of interest sitting near the $0.34–$0.36 zone. That doesn’t mean ENA moves straight there, but it helps frame what this structure could open up if momentum continues to build. Just as important, the breakout invalidates the immediate bearish setup. As long as the price stays above the former wedge resistance, the market is no longer operating in a sell-first environment. What to Watch Next for ENA From here, the most important thing is whether ENA can hold above the breakout zone. If the price stays above former resistance and possibly retests it successfully, the bullish structure remains intact. If the ENA price slips back inside the wedge, the setup weakens and indicates the market needs more time. For now though, the chart supports the idea that this falling wedge breakout is real. ENA may still be early in its move, but structurally, this is the clearest shift it has shown in weeks.