ENA Price Prediction: USDe Growth Keeps Breakout Hopes AliveENA / TetherUSBINANCE:ENAUSDTCoinCodex* USDe has grown past $320 million on Robinhood Chain, strengthening Ethena’s ecosystem. * The ENA price has broken above a major downtrend and is holding key support near $0.1655. * Falling active addresses present a risk, but bulls remain focused on higher price targets. Ethena is finally giving traders something to get excited about after spending months stuck under a stubborn downtrend. At the same time, Ethena’s ecosystem keeps growing, with USDe now holding more than $320 million on Robinhood Chain and making up roughly 42% of the network’s stablecoin supply. We had a look at the ENA charts, and the technical setup looks much healthier than it did a few months ago. The ENA price is trading around $0.166 after breaking above a major descending trendline that had been keeping rallies in check. More importantly, it continues to defend the key Fibonacci support level at $0.1655, which has become a critical area for buyers. The bigger picture is still leaning bullish. ENA is trading comfortably above its 100-day SMA near $0.0918, showing just how much ground it has recovered from the lows. The next levels traders are watching are $0.18 and then the psychological $0.20 barrier. If buyers can push through both, the path toward $0.31 starts to look much more realistic. The on-chain data is where things get a little more complicated. Active addresses climbed to around 2,800 when ENA was pushing toward $0.17, but that number has since dropped back closer to 1,400 even though the price remains near its recent highs. That indicates a smaller group of larger investors may be driving the rally rather than a broad wave of retail participation. For now, the outlook is pretty straightforward. As long as the ENA price stays above $0.1655 and continues holding its breakout structure, the bulls have the advantage. A move through $0.18 and $0.20 could put $0.31 in play, while a breakdown would bring $0.14 and $0.12 back into focus. CoinCodex’s one-year forecast sits around $0.3647, which suggests there could still be plenty of room to run if momentum keeps building.