**Date: **Mon, Jan 05, 2026 | 07:55 AM GMT
As 2026 kicks off, the broader cryptocurrency market is showing renewed stability. Ethereum (ETH) is up around 4% on the week, and improving sentiment is gradually spreading across major altcoins — including Ethena (ENA).
ENA has already surged more than 14% on a weekly basis, but the more important development is unfolding beneath the surface. While short-term strength is encouraging, the bigger story lies in the structure forming on the chart. Recent price action suggests a meaningful shift in market behavior — one that could mark the early stages of a bullish continuation if key resistance levels are reclaimed.
Source: Coinmarketcap
Rounding Bottom in Play
On the daily timeframe, ENA appears to be forming a rounding bottom pattern, a classic bullish reversal structure that typically develops after a prolonged corrective phase.
The setup began after ENA faced a firm rejection near the $0.3028–$0.2837 resistance zone late last month. That rejection triggered a sharp decline, dragging price down toward the $0.1935 area. Importantly, sellers failed to push price meaningfully lower from there, and strong demand emerged at those levels. Over time, ENA stabilized, volatility compressed, and price began to curl higher — completing the rounded base structure.
Ethena (ENA) Daily Chart/Coinsprobe (Source: Tradingview)
Since carving out that bottom, ENA has started to move higher in a smooth, rounded fashion, closely matching the textbook characteristics of a developing rounding bottom. The recent recovery has also brought price back toward the 50-day moving average near $0.2451, a level that previously acted as resistance and is now being tested as potential support.
What’s Next for ENA?
If ENA continues to hold above the 50-day MA, that level could act as a solid short-term base for further upside attempts. A clean and decisive breakout above the $0.3028–$0.2837 resistance zone, followed by sustained acceptance above it, would validate the entire reversal pattern and likely open the door for a broader bullish expansion phase.
Until such a breakout occurs, the pattern remains in development. Short-term consolidation or shallow pullbacks remain possible as price digests recent gains. However, as long as ENA continues to form higher lows above the established base, the broader bottoming structure remains intact and constructive.
For now, the chart suggests ENA is approaching a critical confirmation phase — one that could determine whether this recovery evolves into a sustained bullish trend as the new year unfolds.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
About Author: Nilesh Hembade is the Founder and Lead Author of Coinsprobe, with over 5 years of experience in the cryptocurrency and blockchain industry. Since launching Coinsprobe in 2023, he has been providing daily, research-driven insights through in-depth market analysis, on-chain data, and technical research.
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