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CryptoUpdated×11•Originally published 18 April 2026•Updated 19 April 2026•

1 min read

Ethereum Faces Resistance at $2,400 Despite Ethena Momentum and Crypto Recovery

Key Facts

1Ethena (ENA) recorded gains between 8% and 15% over the past few days, rising from $0.09 to approximately $0.11.

2ENA is currently trading above its 20-day moving average ($0.0909) and 50-day moving average ($0.0992).

about 2 months ago

Version History

Version 11about 2 months ago

What changed: Updated to include institutional inflows into ENA and new technical targets suggesting a potential 25% breakout toward $0.15.

Version 10about 2 months ago

What changed: Updated the story to include the historic shift in Ethereum derivatives buy-side volume, turning positive for the first time since 2022.

Version 9about 2 months ago

What changed: Updated the story to include Ethena's (ENA) 14% price surge, whale accumulation activity, and increased trading volumes.

Version 8about 2 months ago

What changed: The story was updated to include Fetch.ai (FET) analysis, highlighting its critical resistance levels and the potential for a bullish squeeze driven by negative funding rates.

Version 7about 2 months ago

What changed: Updated Ethena (ENA) price target to $0.16 and incorporated new derivatives data signaling upcoming market volatility.

Version 6about 2 months ago

What changed: The story was updated to include AAVE's technical breakout above key resistance, its new target of $130, and the establishment of $113 as a critical support level.

Version 5about 2 months ago

What changed: The update incorporates ENA's breakout above $0.12 on $25.6M volume and includes new whale positioning data showing a 70% long bias.

Version 4about 2 months ago

What changed: Updated the story to reflect Ethereum's struggle to close above the $2,400 level and its cautious price action relative to the broader market rally.

Version 3about 2 months ago

What changed: The story was updated to include PENGU's bullish breakout above moving averages, driven by strong institutional long flows.

Version 2about 2 months ago

What changed: The story was updated to include Morpho's 20% price surge past $2.0 following its official recognition as a 'DeFi unicorn' by the French Ministry of Finance.

Version 1about 2 months ago

What changed: The story was updated to include Ethereum's 6% surge and breakout from a descending channel, expanding the focus from Ethena's specific rally to a broader market recovery.

The Ethereum (ETH) market has seen a structural shift with derivatives buy-side volume exceeding $102 million, though it still faces resistance at $2,400. Ethena (ENA) is gaining significant traction as institutional money pours in at the current $0.12 levels. A technical setup is now building for a potential 25% breakout if ENA clears the key $0.13 resistance zone, with analysts targeting a move toward $0.15. Meanwhile, Fetch.ai (FET) continues to test the 0.24 level with eyes on $0.28, and AAVE remains steady above critical support. These developments, particularly the institutional interest in ENA, suggest a strengthening bullish sentiment across select altcoins despite broader market volatility.