Ethena Breaks Out on Base, Sees $0.135 Target in Sight

Ethena (ENA), a DeFi project that offers synthetic dollar products, is seeing renewed interest from traders following a key breakout and subsequent retest. Analysts are closely watching ENA's price action amid increasing adoption and liquidity on the Base platform.

The Base layer 2 scaling solution for Ethereum aims to make decentralized applications faster and more cost-effective. At present, ENA is trading at $0.08520 with a 24-hour trading volume of $68.37 million and a market capitalization of $814.75 million.

Crypto analyst Daan Crypto Trades pointed out that ENA recently broke past a significant resistance zone and is now undergoing a crucial retest. If buyers remain active, this could lead to the formation of a higher low and open the door for an uptrend toward a target price of $0.135.

The growth in Base holdings suggests confidence in the Ethena ecosystem is strengthening, while continued demand for synthetic dollars could reinforce liquidity and support further integrations. Traders will be monitoring ENA's next move closely to determine whether recent bullish signals can translate into sustained upward price action.