Perfect Time to Long $ENA – Targeting $0.80, $1.3, And $2.4This is a repost. The previous one was removed due to some rule violations by the TV mod.
Let the records show that the first post was made on Feb 21, 2025, 11:31 UTC, at the price of $0.43518.
CRYPTO:ENAUSD Ethena has formed a bullish bat harmonic on a smaller timeframe and a macro bearish deep butterfly on a longer timeframe. The bat has already completed, and Ethena has bounced off, starting an upward trend.
The deep butterfly, on the other hand, remains incomplete. It’s not guaranteed to play out, but if the market moves up—which seems inevitable sooner or later— CRYPTO:ENAUSD could revisit its previous all-time highs and potentially exceed them.
The $0.80–$0.89 range is a confluence of multiple indicators like Fibonacci levels, VRVP, and others.
$1.3 aligns with the 2025 high.
So, where does $2.40 come from?
First, the bearish deep butterfly pattern points to $2.40–$2.50 as a potential reversal zone. If it completes, that range could present a shorting opportunity for $CRYPTO:ENAUSD.
Second, fundamentals support a higher valuation. In less than a year USDEUSDT supply has jumped from 1.54B to 6.05B—nearly a 4x increase. Based on an analysis that my post got removed for, comparing CRYPTO:ENAUSD to CRYPTO:MKRUSD , even $2.50 would be an undervalued level.
Third, CRYPTO:ETHUSD has been in a prolonged downtrend, but sentiment has grown overwhelmingly bearish. Historically, when too many traders bet against something, the probability of a reversal increases. CRYPTO:ETHUSD / CRYPTO:BTCUSD has already begun trending up, repeating the same cycle behavior it has followed before. When Ethereum moves up alongside Bitcoin, it’s logical to expect Ethereum-based tokens to rally as well, regardless of fundamentals or technical patterns.
