As of press time, ENA token price is at $0.2546, down 4% over the last 24 hours, with the impending token unlock being a contributing factor.
Overview of Current ENA Situation
The current trading range for Ethena's ENA token is between $0.2507 and $0.2659. The decline in price occurs amid diminishing active interest in the token.
Token Unlock Data
According to Tokenomist data, approximately 40.63 million ENA tokens, representing 0.67% of the current circulating supply, are set to be unlocked today, valued at $10.34 million.
Technical Analysis and Predictions
Technical indicators show pressure on the ENA token, with most major moving averages signaling sell. The relative strength index of 41.4 indicates a neutral position, but dwindling trading volume may lead to further price decline. Should the token hold above the $0.25 support level, a recovery towards $0.28 could be seen; otherwise, it may descend to the $0.22–$0.23 zone.
The current situation surrounding ENA may define its future direction. The expected token unlock creates uncertainty, and the supply-demand balance in the coming days will be crucial for the token's price trajectory.
