ENA, a native token powering DeFi protocol Ethena, is sparking renewed interest among traders after a popularly followed technical indicator flashed a looming market resurgence. According to metrics shared today by market analyst Ali Martinize, the TD sequential indicator is flashing a buy signal on Ethane’s daily trading chart, suggesting potential uptrend pressure on the virtual currency.
The emergence of the fresh buy signal comes after the token’s recent dramatic pullback. ENA price has been down 14.7% and 48.3% over the past week and month, respectively, indicating heightened struggles in the market.
The Buy Signal Flashes Bullish Rebound
The formation of the buy signal, as spotted by the analyst, indicates that Ethena could be entering a potential recovery phase. The TD Sequential is a popular financial instrument that traders use to spot trend exhaustion and potential price reversals. The data shared by Ali shows the appearance of the nine consecutive black candles, suggesting that the downtrend could soon come to an end as volatility decreases and stabilization builds up in the market.
The completion of the TD Sequential phase shows buyers are slowly moving into the Ethena market. Strategic, long-term buyers appear to be positioning themselves to take advantage of recent market dips to amass tokens at a discount. The ninth black candle emerged as the token surged above $0.2419, an increase of 1.2% over the past 24 hours, indicating buyers are trying to overcome selling pressure.
Ethena’s decline is a reflection of the wider slump being noticed in the larger cryptocurrency market, with many prominent assets down currently. Bitcoin and Ethereum have been down 22.7% and 29.0% over the past month, currently trading at $86,235 and $2,799, respectively, indicating persistent selling amid macroeconomic uncertainty.
Another major catalyst for Ethena’s price is its recent massive token unlock executed two weeks ago. On November 5, 2025, Ethena Labs unlocked massive 171.88 million ENA tokens worth $57.5 million into the public market, a move that triggered ENA to drop by over 40% this month. The asset’s decline remained persistent despite its token listing on Robinhood on November 7.
ENA Price Gains as Falling Wedge Pattern Forms
Despite ENA’s weak market performance, market observers (including Ali Martinize and several others) believe that buying interest is returning to the market.
Market analyst Alpha Crypto today flagged a formation of a falling wedge pattern in the ENA’s price movement. The presence of the falling wedge pattern indicates an upcoming market rally. Historical patterns suggest that similar formations have led to ENA’s significant price surges in the past. As per the analyst, the narrowing wedge lines signify that the selling pressure is declining, with buyers slowly taking over control.
