ENA Price Eyes Breakout at $0.10 Amid Staking Frenzy

Ethena (ENA) is gaining momentum after reclaiming a key technical support level. The cryptocurrency's price has been trading at $0.09179, with a market capitalization of $877.38 million and a 24-hour trading volume of $123.95 million.

Analysts believe that strong staking activity and large investor accumulation have reduced available supply, supporting expectations for further upside. According to Unknown AI, ENA has improved its short-term technical structure after reclaiming the 200-period EMA on the four-hour chart.

A move above $0.0935 within the next four hours would indicate a successful clearance of the supply zone, allowing the ENA price to rise to $0.1020. On the contrary, failure to break above current levels can result in a drop to the level of $0.0880.