Ethena price prediction: Further lows possible? ENA falls 7.14% on heavy selling

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Ethena slides 7.14% today to $0.0949

Highlights

Ethena’s Season 5 incentive program, ending March 2026, concludes ongoing ENA airdrops as the project distributes millions of governance tokens.
The new Internet Bond offers dollar-based yields via staking and perpetuals, backed by major crypto investors, but faces continued selling pressure.
ENA trades heavily below key trend levels amid persistent bearish momentum, with downside risk toward $0.0900 and limited rebound probability next week.

Ecosystem expansion and investor backing countered by persistent market weakness

Ethena's Season 5 rewards program is scheduled to conclude in late March 2026, providing a final period for users to earn ENA tokens through ongoing airdrop activities. The project’s USDe stablecoin operates on a delta-hedging mechanism and has issued millions of ENA governance tokens since launching. Ethena also recently introduced the Internet Bond, a dollar-based savings product that yields returns from staking and perpetual futures funding, supported by key investment from Dragonfly Capital, Binance Labs, and Bybit — though price action has remained under broader selling pressure.

Downside momentum intensifies as indicators align below resistance

Technical analysis indicates that ENA remains decisively below all key moving averages, with immediate resistance at the Ichimoku Kijun level of $0.1074. Momentum indicators such as MACD and ADX confirm persistent downward direction, while RSI (41.4), Stoch RSI (23.5), and CCI (–86.3) reflect ongoing but not extreme oversold conditions; both BBP and AO deliver strong intraday sell signals, aligning with the observed downside bias.

Rangebound trading expected as bearish signals outweigh rebound odds

In the short term, ENA is likely to trade within a typical volatility band between $0.0900 and $0.1000. The probability of a price increase remains low (below 20%) as most key momentum and trend indicators continue to signal a bearish market structure. A sideways movement within this tight range is the baseline scenario as immediate selling pressure begins to subside. Only a decisive move above $0.1074 would challenge the trend, while a drop below $0.0900 could expose the asset to new lows.

Viktoras Karapetjanc, expert at Traders Union, believes ENA’s fundamentals remain compelling despite current technical weakness. He sees strong backing from major institutional investors and an ongoing rewards program supporting future user engagement. Macro sentiment in the crypto space remains cautious, but structural development like the Internet Bond is notable. In his view, any break above $0.1074 would signal the start of a new phase. "I am optimistic — continued project innovation and institutional support could help ENA stabilize and eventually recover despite short-term challenges."

Earlier, analysts noted that Ethena was constrained by persistent bearish momentum, limiting the potential for a short-term recovery. The latest data reinforces this outlook, and with selling pressure still dominant, traders should closely monitor the asset for any sustained movement outside the current $0.0900–$0.1000 range as a signal for renewed volatility.

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.