Ethena!

The cryptocurrency market is showing signs of recovery following one of its steepest declines earlier this week. A key driver of this rebound is a statement from the U.S. Secretary of Commerce, suggesting that former President Donald Trump may announce a rollback of tariffs on Canada and Mexico later today. In response, Ethena ($ENA ) has returned to positive territory, posting notable gains ahead of a significant token unlock event.

However, despite this temporary relief, ENA has experienced a sharp 69% decline over the past 60 days, significantly eroding investor confidence.

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Unlocking 39% of Circulating Supply

A major factor contributing to ENA’s recent downturn is the anticipation of today’s substantial token unlock event. According to data from Tokenomics, Ethena is conducting its first insider unlock, which will release approximately 2.07 billion ENA tokens—equivalent to 39% of its circulating supply—valued at over $764 million.

The distribution of the unlocked tokens is as follows:

Core Contributors: 1.13 billion ENA (~$471 million)

Investors: 937.5 million ENA (~$392 million)

Ecosystem Development: 7.93 million ENA (~$3.32 million)

This significant influx of tokens has raised concerns about potential selling pressure, which could further challenge price stability if large holders opt to liquidate their positions.

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Testing Critical Support Levels

From a technical standpoint, Ethena (ENA) has been on a downward trajectory since the start of 2025, following a rejection at its December high of $1.31. The bearish momentum has driven ENA to its current price of $0.36, where it is testing a crucial support zone between $0.31 and $0.40, as highlighted in red on the chart.

If ENA successfully maintains this support level, a potential rebound could trigger a recovery rally. This scenario could see the token reclaim its 25-day Simple Moving Average (SMA). A confirmed breakout above this level might pave the way for a trend reversal, potentially driving the price towards $0.80 and beyond.

Conversely, a failure to uphold this support could expose ENA to further declines, with the next major support target around $0.23, marking the lower range of its previous trading structure (highlighted in grey).

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Outlook: Volatility Ahead

With 39% of ENA’s supply unlocking today, heightened volatility is expected in the near term. The key to price stability will be the market’s ability to absorb the increased supply without significant downward pressure.

Investors will closely monitor how ENA performs within the critical $0.31–$0.40 support zone and whether broader market recovery efforts can provide additional support. The coming days are likely to be pivotal for ENA’s short-term trajectory.

The cryptocurrency market has faced significant headwinds since the November rally, with major altcoins struggling to sustain momentum. A sharp increase in Bitcoin dominance, coupled with external factors such as the Deepseek launch and tariff-related uncertainty linked to former U.S. President Donald Trump, has exerted additional bearish pressure.

Ethena ($ENA ) has not been immune to this downturn, undergoing a 46% correction over the past 60 days. However, technical indicators suggest that the asset may be positioning itself for a recovery.

Cup and Handle Formation: A Bullish Continuation Pattern?

On the daily chart, Ethena (ENA) appears to be forming a cup and handle pattern—an established bullish continuation pattern often signaling a potential breakout.

Following a rejection at $1.07 on December 2, ENA retraced to a critical support level at $0.47. Despite this correction, it has remained resilient above $0.52, forming the handle portion of the pattern. If this structure plays out as expected, ENA could rally toward the neckline resistance at $1.29, representing a potential 141% upside from current levels.

Key Resistance Levels and Technical Indicators

200-Day Simple Moving Average (SMA): The 200-day SMA currently serves as an intermediate resistance level. A confirmed breakout above this moving average would strengthen the case for a bullish recovery.

MACD (Moving Average Convergence Divergence): The MACD indicator suggests that bearish momentum is weakening. A potential bullish crossover could enhance buying pressure and signal a shift in market sentiment.

Will Ethena (ENA) Confirm a Breakout?

ENA stands at a crucial juncture. A decisive break above the 200-day SMA and neckline resistance at $1.29 could set the stage for a strong rally toward its all-time high of $1.52. However, broader market conditions—particularly the price action of Bitcoin and Ethereum—will play a key role in determining whether this recovery is sustainable.

Confirmation above these critical resistance levels is essential before a full-fledged rally can be validated. Investors should closely monitor price action and technical indicators to assess the strength of a potential breakout.

The cryptocurrency market is showing signs of recovery following one of its steepest declines earlier this week. A major catalyst for this rebound has been a statement from the U.S. Secretary of Commerce, which suggests that former President Donald Trump may announce a rollback of tariffs on Canada and Mexico. In response, Ethena ($ENA ) has experienced a shift into positive territory, recording notable gains as it approaches a significant token unlock event.
However, despite this temporary relief, ENA has seen a substantial 69% decline over the past 60 days, leading to a significant erosion of investor confidence.

---

Unlocking 39% of Circulating Supply

A primary factor contributing to ENA's recent downturn is the anticipation surrounding a substantial token unlock event scheduled for today. According to data from Tokenomics, Ethena will conduct its first insider unlock, releasing approximately 2.07 billion ENA tokens—representing 39% of its circulating supply—valued at over $764 million.

The breakdown of the unlocked tokens is as follows:

Core Contributors: 1.13 billion ENA (~$471 million)

Investors: 937.5 million ENA (~$392 million)

Ecosystem Development: 7.93 million ENA (~$3.32 million)

This substantial influx of tokens has raised concerns regarding potential selling pressure. If large holders decide to liquidate their positions, it could exert additional downward pressure on ENA's price.

---

Testing Critical Support Levels

From a technical perspective, Ethena (ENA) has experienced a downward trajectory since the beginning of 2025, following a rejection at its December high of $1.31. This bearish momentum has driven ENA down to its current price of $0.36, where the token is now testing a crucial support zone between $0.31 and $0.40, as indicated on the chart.

If ENA is able to maintain this support level, it could pave the way for a potential recovery rally. A successful rebound might allow the token to reclaim its 25-day Simple Moving Average (SMA). A confirmed breakout above this level could signal a trend reversal, with the possibility of the price moving toward $0.80 and beyond.

Conversely, if ENA fails to hold this support zone, it could face further declines, with the next major support level around $0.23, marking the lower range of its previous trading structure.
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Outlook: Volatility Expected
With 39% of ENA’s circulating supply unlocking today, heightened volatility is anticipated in the short term. The ability of the market to absorb the increased supply without significant downward pressure will be a key factor in determining price stability.
Investors will closely monitor ENA’s performance within the critical $0.31–$0.40 support zone, as well as the broader market recovery efforts, to assess whether additional support can be provided. The coming days will likely be pivotal in shaping ENA's short-term trajectory.

3 wallets associated with the #Ethena! a team deposited 38.36M $ENA ($14.4M) into #Binance ance in the past hour.

Ethena Labs, the team behind the synthetic stablecoin USDe, announced it has shut down its German subsidiary, Ethena GmbH.
Ethena Labs will also no longer pursue regulatory approval under the EU’s Markets in Crypto-Assets Regulation. The decision follows a March enforcement action by Germany’s financial regulator, BaFin, which ordered the company to halt all public sales of USDe Ethena USDe
usde 0.01% Ethena USDe due to MiCAR noncompliance.
In a statement posted to X, Ethena Labs confirmed it had reached an agreement with BaFin to wind down all activities of its German entity. The company emphasized that since March 21, all minting and redemption of USDe have been conducted through Ethena Limited, its entity in the British Virgin Islands.
We have agreed with BaFin to wind down all activities of Ethena GMBH and will no longer be pursuing the MiCAR authorization in Germany.

As communicated previously, Ethena GmbH has not conducted any mint or redeem activity since March 21, 2025, and all activity has been carried…

— Ethena Labs (@ethena_labs) April 15, 2025
Users previously onboarded through Ethena GmbH have transitioned to the BVI platform, and the German entity no longer has any customers or active operations.#WCTonBinance #BitcoinWithTariffs #Ethena! $ENA

Ethena is positioning itself as a game-changer in the DeFi world, leveraging its unique features to drive innovation in decentralized finance. At its core, Ethena combines algorithmic stablecoin solutions with a decentralized governance structure, offering users a blend of financial stability and autonomy. This dual focus aims to solve critical issues like price volatility while maintaining transparency and user control.
The Ethena Edge 🛡️
@Ethena_Labs
Unlike many DeFi projects, Ethena's algorithmic stablecoins are designed to remain resilient under market pressure, ensuring value retention even in turbulent conditions. Additionally, its governance model prioritizes community involvement, empowering holders to actively shape the platform’s evolution.
A Growing Ecosystem 🌐
Ethena’s expanding ecosystem includes decentralized borrowing, lending, and staking opportunities, attracting a diverse user base. These tools are seamlessly integrated, creating a unified platform for DeFi enthusiasts to maximize their returns.

Why Ethena Matters ✨
👇👇👇
$ENA
In a landscape dominated by trust issues, Ethena’s transparency sets it apart. With regular audits, open-source development, and a dedicated community, it’s paving the way for a trustless financial future. This model of inclusivity could bridge gaps in financial access, aligning perfectly with the ethos of Web3.
Looking Ahead 🔮
As more investors recognize Ethena's potential, the platform is likely to attract substantial capital inflows, fueling its growth. With its commitment to innovation and a user-centric approach, Ethena could be a significant player in the next wave of DeFi adoption.
Ethena isn’t just a platform; it’s a movement towards a decentralized financial future. Whether you’re a seasoned trader or a DeFi newcomer, now might be the time to explore what Ethena has to offer! 💪💸
#ENAUSDT🚨 #ENA智能策略库🥇🥇 #Ethena! #ethena_labs #SuperMacho