ENA 8H – Holding Rising Trendline After Retest of SupportENA / TetherUSBINANCE:ENAUSDTBKVIPEthena is trading around 0.2236 on the 8H timeframe after a sharp dip tagged the ascending trendline near 0.2050 and reversed, with price now grinding back along that same support after pulling back from the September high near 0.2750. The structure here began with a steep advance off the 0.0820 low in mid August, with the rising trendline holding through every meaningful pullback since. ENA built a range between 0.1350 and 0.1850 through early September, with the mid September low bouncing cleanly off the trendline before launching the breakout leg. That move carried price through 0.2000 and up to a high near 0.2750 in late September, followed by a pullback and a lower high near 0.2600 in early October. The most recent selloff dropped into the trendline with a wick below 0.2000, but buyers defended it almost immediately. Price is currently pressing back up at 0.2236 after that bounce, sitting right on the trendline and the horizontal level near 0.2200 that has acted as both support and resistance throughout this move. Key Levels To Watch: → 0.2750 September high, breakout extension top → 0.2600 October swing high, lower high resistance → 0.2400 Prior consolidation, first level to reclaim → 0.2236 Current price, sitting on trendline support → 0.2000 Horizontal support, recent wick low → 0.1650 Early September swing high, deeper support → 0.1350 Mid September low, trendline bounce → 0.0820 Trendline origin, August low A reclaim of 0.2400 would confirm the trendline bounce and set up another test of the 0.2600 lower high, with a clean break above it opening the path back toward the 0.2750 September high. Losing the trendline and the 0.2000 level would be the first real break of structure since mid August, exposing 0.1650 as the next support and the 0.1350 area as the deeper level if the selloff extends. Hold the trendline and ENA builds toward another push at the highs. Lose 0.2000 and this pullback extends toward lower support. Bias stays cautiously bullish given the trendline has held through every test, but the lower high near 0.2600 needs to be reclaimed to confirm the next leg higher.