🔍 Key Highlights

$BNB $BTC

$SOL $ENA has dropped to around $0.39, after falling nearly 9% in the last 24 h following a rally above $0.53 earlier in the week.

The decline comes despite strong ecosystem milestones — for example, its affiliated project Terminal Finance hit ~$280 M in pre-deposits, boosting investor sentiment earlier.

Analysts say the drop is likely a “sell-the-news” reaction: after the big uplift in October, some profit-taking set in.

Technical support is closely watched at ~$0.39-$0.40; major resistance lies near ~$0.66.

On-chain fundamentals remain solid: large total value locked (TVL) and strong protocol fees, but price action is under pressure due to macro headwinds and market volatility.

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✅ Why This Matters

ENA is the governance token for the Ethena protocol, which issues the synthetic dollar USDe. The token’s value is tied to both DeFi adoption and market sentiment.

The recent ecosystem progress gives ENA potential upside, but markets are showing caution, making the support zone very important for next moves.

If ENA can hold ~$0.39 and reclaim momentum, the next leg might aim toward resistance near ~$0.66. If it fails to hold support, deeper pullback is possible.