Ethena falls 9.61% as sellers dominate all timeframes

Traders Union
All News
Crypto News
Ethena slides 9.61% today on fresh lows

Highlights

Coinbase Ventures' acquisition of ENA tokens and partnership with Ethena will introduce ENA-backed savings products to its retail users.
Ethena expanded institutional capabilities by teaming with Anchorage Digital, enabling DeFi collateral management for large investors through the Atlas platform.
ENA/USD exhibits persistent bearish momentum, trading below key moving averages with a 71% likelihood of further downside within the $0.0875–$0.1041 range over the next 2–3 days.

Institutional inflows and partnerships expand as price lags

Coinbase Ventures completed a purchase of ENA tokens on the open market and entered into a partnership with Ethena to deliver on-chain savings and finance products to Coinbase's user base. This arrangement introduces third-party capital directly into the token and creates an avenue for ENA-backed products to be distributed to a broad retail audience. In addition, Ethena expanded its collaboration with Anchorage Digital to enable institutional investors to use Anchorage’s Atlas platform for collateral management in DeFi lending markets. These developments mark a significant institutional and product expansion for Ethena, though price action has remained under broader selling pressure.

Downside momentum and volatility rise as resistance levels persist

ENA/USD is trading below the MA-20 ($0.1082), MA-50 ($0.1003), and MA-200 ($0.1534), indicating that short-, medium-, and long-term moving averages are acting as resistance levels. The immediate technical resistance is set at the Ichimoku Kijun level of $0.1076. ADX signals 'Sell,' MACD is on 'Neutral,' and RSI is at 38.6931, highlighting selling conditions. Stoch RSI and CCI are both in oversold territory, while the Bull/Bear Power (BBP) and Awesome Oscillator further reinforce the prevailing downside momentum. High volatility is confirmed as price trades near the session's low, with most momentum and oscillator indicators aligned with continued selling pressure.

Bearish bias and limited upside amid high volatility

For the next 2–3 days, the anticipated price range for ENA/USD is $0.0875–$0.1041, based on projected volatility. There is a 29% probability of an upward move and a 71% probability of additional downside. The base case expects price consolidation within this band, with a bullish scenario possible only on a sustained break above immediate resistance. A close below support opens the path to further declines toward the lower end of the forecast range.

Viktoras Karapetjanc, expert at Traders Union, sees strong institutional engagement as a fundamental positive for ENA. He believes the partnership with Coinbase Ventures and Anchorage Digital broadens the token’s reach and credibility, even as short-term momentum remains capped by technical resistance. Macro and sentiment pressures are evident, but underlying adoption trends are improving. 'If ENA can consolidate above resistance, the groundwork from major partnerships could ignite a recovery in the coming sessions,' says Karapetjanc.

Previously it was reported that Coinbase Ventures’ open-market purchase of Ethena’s ENA tokens signaled a potentially significant step for DeFi product distribution, even as the asset faced persistent market and regulatory uncertainties. The latest technical signals and ongoing institutional involvement suggest traders should watch for further downside risk below the current support range, with confirmed rebounds only probable if ENA decisively breaks above immediate resistance in the coming sessions.

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.