$ENA , as a token of the synthetic dollar protocol, has a unique set of drivers related to the backing of USDe, yield from staking, and acceptance as a means of saving in DeFi. Its volatility may be more sensitive to news related to the regulatory framework for stablecoins and to the overall interest in yield-generating protocols. Unlike LDO (staking) and AAVE (lending), Ethena focuses on creating a new type of stable currency, which adds its own dynamics.

Currently, $ENA is in a critical zone. A breakout at $0.5647 with volume will open the way to $0.6200+, however, a rebound could lead to a correction down to $0.52. It is recommended to wait for clear volume signals to enter a position.