Ethena (ENA) Price Approaches Resistance, While Chainlink (LINK) Tests Key Zone

As Ethena (ENA) and Chainlink (LINK) exhibit notable movements on their respective charts, traders are watching for potential breakout levels.

Crypto assets Ethena (ENA) and Chainlink (LINK) are exhibiting significant movements on their respective charts, attracting the attention of traders who anticipate potential breakout levels. These assets present promising technical setups that suggest possible upward momentum.

As Ethena (ENA) price approaches a crucial resistance level, Chainlink (LINK) price aims for higher targets after reclaiming key zones. Chainlink's performance has also positioned it among the top five gainers in the crypto market today, signaling strong market interest.

Ethena (ENA) Chart Analysis: Triple Bottom and Resistance Level

The Ethena (ENA) price trades around $0.3915, which marks a key resistance level on the chart. Notably, the chart also displays a triple bottom pattern — a formation that is generally associated with a potential bullish reversal.

This setup indicates that buyers have stepped in repeatedly, creating a supportive foundation near the lower levels. The series of higher lows aligns with Cray's observation in his tweet that there are “higher lows in the making,” hinting at strengthening bullish momentum.

If the ENA price breaks above the $0.3915 resistance level, it could trigger a potential rally toward the next target range between $0.50 and $0.70. Cray also highlights the possibility of opening a leveraged position if ENA breaks this level, emphasizing the importance of a confirmed breakout.

Traders will be watching for signs of increased buying pressure to see if Ethena (ENA) can maintain an upward trajectory.

Chainlink (LINK) Price Recovery and Range High Target

Chainlink (LINK) has demonstrated resilience, trading within a defined range between $10.00 and $13.00. The chart shows that LINK experienced deviations below both the range low and mid-range levels, briefly dipping below key zones.

However, it quickly reclaimed these levels, a move often associated with false breakdowns in range-bound markets. Jip Molenaar highlighted that deviations below the range low and mid-range have been “confirmed,” setting the stage for an upward move.

With LINK moving back toward the range high at $13.00, traders are anticipating further gains if this level is reached. LINK's upward momentum aligns with its position among the top five gainers in the crypto market, further highlighting its strength in the current market environment.

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