Technical analysis by weslad about Symbol ENA: Buy recommendation (8/3/2025)

Ethena (ENAUSDT) is currently developing a possible double bottom reversal structure, with price rebounding firmly from the lower boundary zone. This key support has now produced a bullish reaction, guiding price action toward the upper neckline resistance of the pattern. A successful breakout above the neckline will confirm the double bottom formation and validate the bullish reversal scenario. This setup aligns with classic accumulation behavior often seen at market bottoms. If confirmed, the projected targets have been clearly mapped on the chart for your strategic positioning and risk management. Watch the neckline zone closely it holds the key to short-term trend reversal or continued range behavior. Share your thoughts in the comments.The double bottom formation in progress.