#ENASurgesOver15%InADay

ENA continues to hold the gains that followed the tokenomics overhaul. The Ethena Foundation ended monthly VC unlocks and proposed that 95 percent of protocol revenue be directed to buybacks. The market responded with a more than 15 percent rally that took price to the 0.17 area, and the daily chart is now consolidating those gains.
Price is currently sitting at 0.15994 after a mild 1.45 percent pullback. The 9-period MA rests at 0.15526 and the 50-period MA is much lower at 0.09862. Bollinger Bands stretch from 0.05022 on the downside to 0.18730 on the upside, with the middle band near 0.11876. Price remains well above the middle band and every major moving average. The next clear resistance is the upper band and SRL level at 0.18730. Support starts at the 9-period MA near 0.155, then the middle band at 0.11876 and the 50-period MA at 0.09862.
RSI is at 70.59, still elevated but no longer extreme. MACD remains positive with the histogram constructive, showing that momentum has not yet rolled over.
The bullish case is a clean hold above 0.155 and a subsequent break of 0.18730. If the buyback proposal moves forward and revenue continues to flow into actual purchases, the combination of reduced unlock pressure and structural demand could keep the higher-high structure intact. In that scenario the entire 0.155–0.118 zone becomes the first support band on any pullback.
The bearish case is a failure to defend 0.155 on rising volume. A break of that level would likely target the middle Bollinger Band at 0.11876 and open the door toward the 50-period MA at 0.09862. After a sharp 15 percent impulse some digestion is normal, especially if the market decides the announcement has already been fully priced.
I am treating 0.18730 as the immediate upside pivot and 0.155 as the short-term trend filter. Until the buyback details become clearer and the daily structure stabilizes, size stays measured. The end of VC unlocks is a genuine positive, but the chart still has to convert the news into sustained acceptance above the recent highs.
Are you adding on a break of 0.187, waiting for a retest of 0.155, or already taking partial profits into the strength? Share your levels.
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