HTX to list USDe stablecoin — Ethena slips 7.18%

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Ethena drops 7.18% to $0.1539 today

Highlights

HTX will list Ethena's USDe, a synthetic dollar stablecoin using crypto collateral and delta-neutral hedging, broadening global access and adoption.
USDe integration enables users to earn daily rewards and use the token as margin collateral for derivatives, expanding its centralized and decentralized finance utility.
ENA trades at $0.1539, below key moving averages (MA-20: $0.1966, MA-50: $0.2122, MA-200: $0.4368), with sustained bearish momentum and limited near-term support above $0.1480.

USDe utility expands as HTX backs synthetic stablecoin integration

HTX, a major global cryptocurrency exchange, has confirmed the upcoming listing of USDe, Ethena's synthetic dollar stablecoin that utilizes crypto collateral and a delta-neutral hedging strategy rather than traditional fiat backing. The integration will enable users to earn daily rewards and use USDe as margin collateral for derivatives trading, expanding USDe's utility in both centralized and decentralized finance. This partnership is expected to broaden global access and enhance the usage profile of USDe.

Bearish signals deepen as resistance holds and sellers maintain control

ENA remains in a firmly bearish setup with dynamic resistance at the Ichimoku Kijun ($0.2085) and little immediate support, as buyers fail to establish higher bullish structures. Momentum indicators signal seller strength: MACD is in sell territory, ADX points to only a mild trend, and Bull/Bear Power remains negative. RSI, Stochastic RSI, and CCI highlight oversold conditions that suggest downside exhaustion, while the Awesome Oscillator does not show any significant shift in trend direction.

Limited upside prospects as breakout odds remain minimal

Over the next five trading days, typical volatility for ENA is expected between $0.1480 and $0.1690. The probability of a positive move above resistance is low (under 20%), making further decline or sideways action in a tight range more likely. A bullish scenario requires a decisive breakout above $0.1690 – $0.1740 and confirmation above the Ichimoku Kijun, while renewed selling pressure could push ENA below $0.1480 support.

Anton Kharitonov, expert at Traders Union, sees ENA locked in a persistent downtrend, trading well below key moving averages and resistance levels. Technical signals remain bearish, with little evidence of buyer strength and oversold indicators suggesting downside exhaustion rather than a reversal. The recent USDe listing on HTX is a positive step, but it has not shifted market momentum. "Until ENA can firmly reclaim $0.1690 — $0.1740, I remain defensive and see little reason to expect a lasting rebound."

Recently, analysts noted that Ethena (ENA) remains under persistent bearish pressure, trading well below key moving averages across all timeframes, with no nearby dynamic support and notable resistance at the Ichimoku Kijun. Momentum signals—including MACD, ADX, and multiple oscillators—confirm sustained downside pressure and oversold conditions, suggesting exhaustion risk but offering limited prospects for near-term recovery without a clear break above resistance.

Source of Data: ENA Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.