Ethena (ENA) is at a crossroads, oscillating around a critical support level. Analysts are studying the potential for price movement in either direction.
Market Trends and Price Activity
Technical analysis shows that ENA is within a certain trading range with high volatility. As of writing, Ethena (ENA) was priced at $0.3574, having declined by 1.30% in the past 24 hours and 16.04% over the past week. Trading volume remains high at $163,513,944, indicating active market participation.
Support and Resistance Levels
Crypto analyst Ali_charts notes that ENA's support should be near $0.342 to maintain its position. The support zone is currently between $0.345 and $0.350. The mid-level resistance is $0.4000, and overcoming this barrier could trigger bullish momentum.
Potential Price Scenarios
If ENA holds support and recovers to $0.3700, the next target is $0.4000. If the price drops below $0.3500, the risk increases for a decline to $0.3200–$0.3100 range.
Ethena (ENA) is at a significant point in its price action. Maintaining current support levels could provide an impetus for growth, while a fall below critical values would increase selling pressure.
