Ethena (ENA) jumped 15% in the last 24 hours, currently trading at $0.522, as bullish momentum kicked in following a major strategic announcement. While the broader market experiences a pullback alongside Bitcoin, ENA is standing out with notable outperformance.
Ethena enters new growth phase with USDtb
The surge comes after Ethena Labs confirmed a new partnership with Anchorage Digital, the first and only federally chartered crypto bank in the US.
The collaboration aims to introduce USDtb, a new stablecoin developed by Ethena Labs, as the first to align with the recently passed GENIUS Act, America’s regulatory framework for stablecoin issuance.
This move provides a clear compliance path for USDtb, setting it apart in a heavily scrutinized stablecoin market and fueling optimism around the Ethena ecosystem.
Ethena (ENA) breaks out, eyes $0.70 target
On the technical side, ENA has broken out of a multi-week consolidation zone and is now trading above all major moving averages, including the 100-day and 200-day simple moving averages at $0.33 and $0.42, respectively.
The price also pushed past key resistance levels between $0.42 and $0.50, now testing the upper Bollinger Band near $0.55, a potential short-term resistance.
Support is now firmly established in the $0.38–$0.42 range, with lower fallback zones at $0.33 and $0.21. If ENA can close above $0.55 with strong volume, it may open the door for a rally toward the $0.70 zone, where heavier resistance is expected based on previous price structure.
The combination of bullish technical indicators and a regulatory-compliant stablecoin initiative is drawing fresh attention to Ethena. Traders are watching closely to see if the momentum can extend, turning this breakout into a sustained uptrend.