- $ENA consolidates near $0.41 with analysts identifying $0.30–$0.40 as the prime accumulation zone before a major breakout.
- Crypto Patel’s $5 target projection gains support from Agora_Flux, citing matching structural and technical confirmations.
- The market cap-to-TVL ratio of 0.23 indicates Ethena ($ENA) remains undervalued despite short-term price pressure.
Ethena ($ENA) has a range of consolidation around $0.40 with analysts predicting a well-organized breakout formation taking shape between key support levels. The two analysts are now in agreement that gathering between $0.30 and $0.40 may see a possible upsurge in the direction of $5.
Ethena’s Accumulation Phase Gains Attention
Ethena ($ENA) continues to trade around $0.4109, reflecting a controlled consolidation period that technical analysts view as a preparation phase. The asset’s structure, according to Crypto Patel, shows a high-conviction setup forming inside a broad symmetrical triangle.
Patel identified the $0.30–$0.40 range as the “golden accumulation zone,” where institutional buyers and long-term holders may be accumulating. This area aligns with previous support levels and represents the lower boundary of the ongoing triangle formation. According to the outlook by Patel, a sustained position above the levels of $0.55-0.60 will be an affirmation of a trend reversal and the onset of the next phase of a bull run.
The arrangement has five gradual objectives which include $0.75, $1.00, $1.50, $2.50 and $5.00 implying a gradual, gradual market growth. Patel stressed that the potential of the accumulation zone 4.6x could be realized in case the sentiment and volume increase simultaneously.
On-Chain Indicators Support Structural Readiness
Ethena’s current fundamentals provide context for the developing structure. The project holds a $2.94 billion market cap and a $6.16 billion fully diluted valuation. Its total value locked (TVL) stands at $12.53 billion, producing a market cap-to-TVL ratio of $0.23. This ratio shows a relative undervaluation in comparison with analogue DeFi assets.
The daily trading volume stands at $387 million as a volume to market cap ratio of 13% showing persistent liquidity in spite of short run shrinkage in prices. According to analysts, these conditions tend to happen before volatility expansion, as an indicator of potential accretion by informed participants.
Agora_Flux, supporting Patel’s view, also observed that the $0.35–$0.38 support zone continues to attract strong buy interest. The analyst suggested that this level forms the same accumulation base identified by Patel, reinforcing the possibility of a technical rebound and eventual structural breakout if sustained above $0.38.
Path Toward Confirmation and Target Projection
Analysts maintain that the next confirmation phase will occur once $ENA reclaims the $0.55–$0.60 range, a region Patel described as the “confirmation threshold.” Sustained strength above this level would likely trigger renewed momentum, validating the long-term bullish structure.
Price targets are mapped to historical resistance zones and Fibonacci extensions, reflecting a logical sequence from $0.75 through $5.00. The chart’s projected blue wave structure outlines a healthy cycle of impulse, correction, and continuation, consistent with prior bull market dynamics.
Agora_Flux’s technical alignment with Patel’s scenario strengthens the shared outlook that $ENA is building a base for future expansion. The consistent structure, steady trading activity, and confluence of on-chain data suggest that the asset remains positioned for a potential breakout phase once the current accumulation concludes.
