Ethena (ENA) TD Sequential Buy Signal Sparks Bullish Reversal Hopes

Ethena's native token ENA is attracting trader attention after a TD Sequential buy signal appeared on its 3-day chart, spotted by analyst Ali Martinez. This indicator suggests the prolonged downtrend may be exhausting, potentially leading to a reversal. ENA price slid from around $0.52 in early November to approximately $0.23, but recently found support near $0.2140, which has held firm multiple times this quarter.

Analyst Clifton FX highlighted that ENA is pressing against a major descending trendline on the 4-hour chart. A clean breakout and hold above this level could trigger a 50% to 70% rally, targeting the $0.35–$0.38 resistance zone. Volume has steadied, indicating reduced panic selling and a possible base formation.

Additional analysis points to a falling wedge pattern, which historically precedes significant price surges for ENA. However, the token faces challenges from a massive token unlock on November 5, 2025, where 171.88 million ENA tokens worth $57.5 million were released, contributing to recent declines. Despite a Robinhood listing on November 7, ENA's performance remained weak amid broader market slumps, with Bitcoin and Ethereum down 22.7% and 29.0% over the past month, respectively.

While the technical setup improves, confirmation requires a strong daily close above the trendline to sustain bullish momentum.