Date: Tue, June 17, 2025 | 06:56 AM GM
The cryptocurrency market is experiencing bearish volatility as geopolitical tensions between Israel and Iran continue to rattle investor sentiment. Ethereum (ETH) has dropped from a recent 24-hour high of $2,680 and is now trading near $2,580. Unsurprisingly, several altcoins have also seen red — including Ethena (ENA), which is down more than 5% today.
However, beneath this gloomy backdrop, ENA’s chart may be quietly flashing a powerful bullish signal.
Familiar Fractal Signals Major Rally Ahead
On the daily timeframe, ENA appears to be repeating a nearly identical fractal pattern to what it formed in 2024 — a setup that led to a stunning 247% rally.
Back then, ENA formed a textbook double-bottom reversal pattern followed by a bullish falling wedge breakout. This structure acted as a launchpad, sending ENA soaring from under $0.30 to as high as $1.24 — nearly reaching its neckline resistance.
Fast forward to June 2025, and a similar pattern is unfolding again. After correcting over 80% from its peak, ENA has once again carved out a rounded bottom structure, followed by another falling wedge — one of the most reliable bullish continuation patterns in technical analysis.
What’s Next for ENA?
If history repeats, ENA could be gearing up for a breakout that mirrors its late 2024 surge. A breakout from the current falling wedge would likely target the same neckline resistance near $1.33, which represents a potential upside of 335% from current price levels around $0.29.
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