$ENA /USDT Market Update – June 7, 2025 (15:38–23:59 UTC)**
As of 15:38 UTC, Ethena ($ENA) is trading at $0.3315, reflecting a 0.09% increase over the past 24 hours. Despite this slight uptick, the broader market sentiment remains bearish.
Technical indicators show a Relative Strength Index (RSI) at 38, suggesting that ENA is approaching oversold territory. The Moving Average Convergence Divergence (MACD) has formed a bearish crossover, indicating potential downward momentum.
Analysts predict that ENA could face resistance at $0.3084, $0.3188, and $0.3303, with support levels at $0.2864, $0.2749, and $0.2645. Short-term forecasts suggest a potential decline to $0.2782 by June 9.
Given the current market dynamics and technical indicators, traders should exercise caution. The prevailing bearish sentiment and potential for further declines suggest that it may be prudent to hold off on buying until clearer signs of a reversal emerge.
💬 Traders, what's your take on ENA's current trajectory? Share your insights and strategies in the comments below!
