Ethena (ENA) Explodes 25% on Upbit Listing, Smashes Through Resistance!

Breakout Mania: ENA Surges Past Descending Triangle

Ethena's price just rocketed 25% in the last 24 hours, hitting $0.37 and leaving traders buzzing! The volume? It's gone wild, surging over 300%. ENA didn't just nudge resistance—it shattered the upper trendline of a descending triangle that's been looming since mid-May. Usually, a bearish sign, but not this time—Ethena's flipped the script with a bullish breakout backed by explosive volume!

From the Depths to New Heights

This breakout came hot on the heels of ENA bouncing back from the bottom of a months-long battle zone, ranging from $0.24 to $0.46. If ENA can hold onto the ~$0.30 zone when it revisits that breakout level, watch out—things could get really interesting, aiming straight for the top of that range!

Upbit Listing Ignites the Fire

What sparked this rally? Ethena just got listed on Upbit, South Korea's biggest exchange by volume, with trading pairs in KRW, Bitcoin, and Tether. Following the footsteps of Hyperlane and Babylon, which saw massive gains after their listings, Upbit's the new launchpad for crypto rockets!

Market Surge Fuels the Flame

And it's not just ENA—Ethena's riding the wave of the entire crypto market. Bitcoin's smashed through $118,000 and set a new all-time high. The market's on fire, and ENA's burning bright!

Steadfast Support Amid Token Unlocks

Since early April, Ethena's held steady at that ~$0.24 support, even with regular token unlocks shaking things up. The latest? Over 171 million ENA tokens, worth $63 million, hitting the market. That's 2.7% of the circulating supply. Back in June, they unlocked a whopping 212.5 million tokens—3.72% of the unlockable supply. But that support? It didn't even flinch!

What's Next for ENA?

Keep your eyes peeled, traders! If ENA can keep that $0.30 support on retest, it could be the green light for a full-throttle run towards $0.46 and beyond. The breakout's just the beginning—Ethena's on a mission!