Market Overview
As of 8:40 AM, Ethena (ENA) is facing heavy selling pressure, trading around $0.3967 on the ENA/USDC pair — a sharp 10.31% drop in the past 24 hours.
The token continues its broader downtrend from a recent high of $0.5345, now testing its 24-hour low of $0.3812, a key support level traders are watching closely.
Technical Outlook
RSI (6): At 14.31, ENA is deeply oversold. Such low readings often point to an overextended sell-off, hinting at a possible short-term rebound ahead.
MACD: The MACD line (-0.0190) remains below the signal line (-0.0085) — confirming strong bearish momentum.
Volume: Trading activity is below short-term averages, suggesting steady selling pressure rather than panic-driven liquidation.
Performance: ENA is down -15.22% over 7 days and -27.92% in the past 30 days, signaling persistent weakness in market sentiment.
Key Levels to Watch
Support: $0.3812 — a decisive break below this zone could trigger further downside.
Resistance: $0.4000 (psychological barrier) and $0.4424 (24H high).
Ethena remains in a firm short-term downtrend, with bearish momentum confirmed by the MACD and weakening price structure.
However, with the RSI at 14.31, the token is now extremely oversold, suggesting that a technical bounce or brief consolidation could form if the $0.3812 support holds.
That said, traders should remain cautious — a close below support could lead to an extension of losses in the near term.
Note:- This post is for informational purposes only and does not constitute financial advice. Always DYOR before making investment decisions.
Thank you
