Ethena price jumps 65% as Arthur Hayes backs breakout

Ethena price extended its weekly gain to about 65% on Aug. 21, reaching $0.142 after a $1 billion lending deal with FalconX and bullish calls from Arthur Hayes fueled demand for ENA. Summary Ethena price gained about 65% in seven days and reached an intraday high near $0.145. A $1 billion FalconX facility will fund overcollateralized loans using assets backing USDe. 4-hour RSI reached 93.97, warning that the near-vertical rally is overheated. A break above $0.1465 could expose $0.1587, while $0.1343 is the first support. Ethena price action today According to data from crypto.news, Ethena (ENA) price traded near $0.140 at press time, up about 20% on the daily chart. The token briefly reached $0.1448 after opening the session at $0.116, extending a rally that began near $0.082 on Aug. 18. The move carried ENA through several resistance levels in less than three days. Buyers first reclaimed $0.10, which had limited previous recovery attempts, before breaking through $0.1099, $0.1221, and $0.1343. ENA’s 4-hour chart shows that most of the advance occurred through consecutive large green candles. The token has gained more than 70% from its Aug. 18 low, leaving little consolidation betw...