Ethena (ENA) Price Prediction: Ethena Holds $0.65 Support as Analysts Eye 50x Upside Potential

The altcoin has steadily captured investor attention due to its synthetic dollar platform, USDe, strong on-chain activity, and robust fundamentals. With growing adoption, ENA is positioning itself as a major player in the expanding stablecoin and decentralized finance ecosystem.

Crypto billionaire Arthur Hayes, co-founder of BitMEX, has highlighted ENA as a potential “once in a century” DeFi opportunity. In a recent blog post, Hayes projected that ENA could see up to 50x returns, citing the growing adoption of Ethena’s synthetic dollar product, USDe.

Arthur Hayes sees $ENA 51x by 2028 but sold 7.76M tokens amid tariff and jobs data concerns. Source: @WuBlockchain via X

Hayes believes the stablecoin market could expand from $273 billion to $10 trillion by 2028, driven by adoption among both retail and institutional investors for payments, savings, and yield opportunities. Ethena’s USDe is positioned to become a key player in this ecosystem, potentially benefiting ENA as the platform’s central utility token.

From a technical standpoint, ENA has established a robust support level near $0.65. Each time the price dips to this area, buyers have stepped in, creating a solid foundation for potential growth. A successful breakout above the $0.70–$0.72 resistance zone could set the stage for a push toward $0.80–$0.85. Longer-term targets remain ambitious, with potential rallies toward $2 to $5 if bullish momentum continues.

Ethena (ENAUSD) trades in a bullish triangle, targeting 1.1050 after a 1D golden cross. Source: TradingShot on TradingView

Technical indicators provide further insights into ENA price analysis. The Relative Strength Index (RSI) is currently near 50, indicating balanced market sentiment, while the MACD histogram is flattening, suggesting that selling pressure may be easing. Analysts note that these signals align with a possible trend reversal, making the $0.65 support a critical level to watch.

Beyond technicals, Ethena’s fundamentals highlight robust growth and adoption. The protocol’s Total Value Locked (TVL) has surpassed $11 billion, marking a record high. Protocol revenues have crossed $500 million, reflecting active usage and strong engagement from the community.

$ENA surged to $0.60 as TVL tops $9B, with potential to reach $2 soon and $10 by year-end. Source: Not Telling via X

Daily trading volumes of $633 million position ENA among the most actively traded DeFi tokens. The network value to transactions (NVT) ratio remains low at around 6.9, indicating that on-chain activity significantly outpaces the current token price. These metrics suggest that ENA may be fundamentally undervalued and that the token’s current levels could represent a solid buying opportunity for investors.

Price predictions for ENA vary among analysts. CoinCodex forecasts 2025 prices from $0.45 to $1.69, with TradingBeasts approximating a mean price of $0.69. In the best possible scenario, Flitpay envisions the high price tag of $1.59 in 2025. Further down the road, Binance’s long-term model predicts ENA may gradually creep up to a $0.82 price by 2030.

Market analysts point out the significant levels to observe as the $0.65 support and the resistance levels of $0.72–$0.75. A breakout above these levels would trigger short squeezes and accelerating rallies, while the loss of the support would drive the price to $0.58–$0.60.

Ethena’s current position in the market, supported by a robust $0.65 floor and good fundamental metrics, presents a compelling argument for potential upside in the future. While the cryptocurrency market is uncertain, ENA’s placement in the growing stablecoin and DeFi sector provides a good foundation to build upon for long-term growth. Investors must stay alert to resistance levels, trading volumes, and on-chain activity to assess if ENA can be a good investment.

Ethena was trading at around $0.65, down 0.60% in the last 24 hours at press time. Source: Brave New Coin

With growing uptake, strategic product offerings, and a clear technical breakout framework, Ethena is being increasingly recognized as a solid DeFi opportunity for 2025 and beyond.