Ethena Gains 8.66% as Chart Marks Support Near $0.169

Ethena (ENA) rose 8.66% over 24 hours, putting it among the strongest altcoins in the top 40 by market capitalization as Bitcoin and the broader altcoin sector posted smaller gains. Bitcoin (BTC) gained 0.16% over the same period, while the sector rose 0.40%.

On the four-hour chart, ENA had declined from a local high of $0.294, with a descending trendline marking resistance. The token was testing a demand zone between $0.171 and $0.187 that dates to late August. A Fibonacci retracement level at $0.169 marked nearby support. A four-hour close below that level was identified as a warning sign for the technical setup, while a break above the trendline was another chart test.

Perpetual-market open interest in ENA increased 15.30%, while spot cumulative volume delta remained in a downtrend, pointing to relatively weak spot demand. Funding rates were positive, indicating an overall bullish market stance.

On the weekly chart, ENA broke above the $0.263 swing high from December 2025 in September. A weekly close above $0.263 confirmed the break. The weekly relative strength index remained above 50 despite the recent pullback. Chaikin Money Flow had recovered from seller-dominated trends seen through most of 2026 but remained below +0.05.