Ethena Price Targets $0.65 Resistance Amid Renewed Retail Interest

Highlights:

• The Ethena price shows signs of recovery, soaring 2% to $0.55.
• Ethena and Jupiter have teamed up to launch JupUSD, a new native Solana stablecoin.
• On-chain metrics indicate a rise in open interest as bulls target $0.65 resistance.

The Ethena price has started to recover, up 2% to $0.55%. Meanwhile, its daily trading volume remains in the red zone, down 19% to $382 million, indicating a decline in trading activity. Ethena Labs has partnered with JupUSD, the native stablecoin for the Jupiter Exchange ecosystem, powered by Ethena’s Stablecoin-as-a-Service stack.

JupUSD is expected to play a critical role in the wider Jupiter ecosystem, representing the underpinning of a stable, efficient, and dynamic atmosphere. Therefore, JupUSD will be integrated into various aspects of the Jupiter exchange ecosystem, including Jupiter Perps.

Introducing JupUSD: the native stablecoin of the @JupiterExchange ecosystem built on Ethena's Stablecoin-as-a-Service stack.

JupUSD will plug into every major part of the Jupiter stack, including:

– Jupiter Perps: where the ~$750m in stablecoins inside of JLP will gradually be… pic.twitter.com/jlNLc2eNCz

— Ethena Labs (@ethena_labs) October 8, 2025

Furthermore, the launch of JupUSD is a critical step for Jupiter Exchange moving forward. As such, higher liquidity for better transactions and quicker responsiveness will be expected through Jupiter’s DeFi ecosystem. 

Ethena On-Chain and Derivatives Data

On the other hand, according to CoinGlass, the ENA futures Open Interest (OI) has increased by more than 4.50% in the past 24 hours, reaching $1.20 billion, which suggests an accumulation of longer-term plays.

Generally, a jump in OI suggests a risk-on approach from traders looking for even more upside. Furthermore, the Ethena Volume-Weighted Funding Rate, which was -0.0092% on Wednesday, has now flipped positive at 0.0054% suggesting a bullish increase.

Additionally, supporting the retail interest are on-chain statistics, as Santiment data shows that holders of 0 to 10,000 ENA tokens hit a cumulative total of 48.14 million coins on Thursday, up from 47.51 million on September 30. This suggests that bullish momentum is building, as investors hold billions in assets. 

Ethena Price Could Spike If $0.65 Resistance is Broken

Zooming in, the Ethena price action has busted through a falling channel, a classic sign of a trend reversal. Ethena also has a solid support zone around $0.0.45 and an overhead resistance near $0.65. The ENA/USD daily chart shows the token has been on a tear, with the price recently spiking to $0.55, up from a low of $0.53. The 50-day Simple Moving Average (SMA) sits at $0.65, acting as an immediate resistance zone for the Ethena price.

Meanwhile, the bulls have established a strong support level around $0.45, giving them the strength to break out to the upside. Currently, the bulls need to overcome the $0.65 mark to initiate a bullish breakout in the market.

The Relative Strength Index (RSI) at 41.55 is neutral-oversold conditions. However, ig the bulls regain momentum and push past 48 RSI, it could tilt the odds towards the bulls. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows a bearish crossover, with the signal line (orange) lagging above the MACD line. 

Ethena price could still be a play for bold investors eyeing a short-term scalp, maybe targeting the $0.65 resistance level for a quick exit. The trend on the chart is a mix of hype and caution. Investors might want to consider waiting for a clearer breakout signal.