Bearish technicals and strong resistance cap rally

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Ethena slides 7.24% to $0.1128 today

Highlights

ENA trades at $0.1128, below its MA-20 ($0.1261), MA-50 ($0.1762), and MA-200 ($0.3990), signaling entrenched downtrends across all timeframes.
Daily MACD and ADX (42.8) confirm strong bearish momentum, with RSI (33.1) and CCI (-72.6) near oversold, indicating persistent seller dominance.
The short-term price range is projected at $0.102–$0.124 with downside risk above 80%, and a break above the Ichimoku Kijun at $0.1383 is needed for recovery.

Bearish momentum persists with resistance holding and volatility elevated

Technical analysis shows that ENA faces strong resistance at the Ichimoku Kijun level of $0.1383, with no significant nearby support from Ichimoku or moving averages. Momentum is decisively bearish — the daily MACD confirms a strong sell, ADX is high at 42.8, and both RSI (33.1) and CCI (-72.6) hover near oversold territory. Stochastic RSI is generally neutral but turns oversold on most intraday charts, indicating that downside pressure could be nearing exhaustion, although Bull/Bear Power remains negative and sellers dominate. ENA opened with a modest downward gap and has stayed near the session’s lows amid elevated intraday volatility.

Further declines likely as weak indicators drive trading range

In the short term, ENA is expected to trade within a volatility band relative to current levels, projected between $0.102 and $0.124 for the next five sessions. The probability of further declines is very high (over 80%) due to persistent bearish signals from all major weekly indicators. The baseline scenario sees ongoing sideways consolidation at depressed levels, while recovery would require a decisive break above the $0.1383 Kijun threshold; renewed selling could drive the price toward fresh lows if downside momentum accelerates.

Anton Kharitonov, analyst at Traders Union, sees Ethena (ENA) locked in a persistent downtrend with firm resistance at $0.1383. He notes that momentum and breadth indicators show continued seller dominance and oversold conditions, limiting upside scope. Kharitonov remains skeptical of any near-term rebound given the lack of positive news and sustained pressure below key moving averages. "Unless ENA decisively reclaims $0.1383, I remain defensive and expect continued volatility at depressed levels."

Previously it was reported that Ethena remains under strong selling pressure, trading well below its key moving averages across all timeframes, with downside momentum confirmed by negative MACD and ADX signals. Oscillator readings remain mixed but mostly bearish, with resistance at the Ichimoku Kijun line and limited support, indicating a low probability of near-term bullish reversal and an increased likelihood of continued consolidation or further declines.

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.