Ethena price prediction: Will $0.0793 support hold as ENA weakens 8.37%?

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Ethena drops 8.37% to $0.0876 today

Highlights

Ethena's USDe stablecoin launched on Mercado Bitcoin, expanding access in Brazil's fast-growing crypto market.
USDe's recent integration with Coinbase and enhanced DeFi collateral functionality broaden ecosystem use cases, despite sustained price pressure.
ENA/USD trades well below key moving averages with bearish momentum and high volatility; support at $0.0793 and resistance at $0.0908 define a likely sideways or further downward range in the next 2–3 days.

New USDe integrations expand reach but fail to ease selling pressure

On June 7, Ethena’s synthetic dollar token USDe became available to users of Mercado Bitcoin, Brazil’s largest exchange, increasing its reach in a significant emerging market. This follows earlier integration with Coinbase, where USDe was deployed to power new yield products, enabling extended earning and cross-platform liquidity options for USDe holders. Additionally, Ethena expanded USDe’s utility by allowing its use as collateral across more decentralized exchanges, increasing its participation in DeFi protocols. These actions have broadened access and potential use cases for Ethena’s ecosystem, though price action has remained under broader selling pressure.

Oversold readings emerge as technical sell signals and support converge

ENA/USD closed at $0.0876 after a volatile session, with the price situated below its MA-20, MA-50, and the long-term MA-200 on the hourly chart. Technical resistance is defined by the Kijun level at $0.0908, while immediate support is near $0.0793. MACD and Awesome Oscillator have both issued sell signals, and ADX remains neutral. RSI, Stoch RSI, and CCI all indicate oversold conditions, and BBP confirms seller dominance, suggesting that the intraday move stretched the price to the downside with some potential for a short-term technical rebound.

Sideways scenario likely as resistance and support levels define outlook

The expected trading range for the next 2–3 sessions is $0.0793 to $0.0981, reflecting typical volatility for ENA at current levels. The most probable scenario is sideways movement within this corridor. An upside break above $0.0908 would signal the start of a bullish scenario, while a move below $0.0793 could trigger further declines.

Anton Kharitonov, expert at Traders Union, sees continued weakness in ENA despite notable expansion efforts around the USDe token. He believes that technical pressure dominates as long as the price stays below key resistance at $0.0908. The current range suggests sideways trading, with little evidence of immediate recovery. "Until we see a sustained move above $0.0908, I remain defensive and cautious on ENA."

Earlier, analysts noted that despite institutional developments and broader ecosystem growth, Ethena was contending with persistent bearish momentum and heightened volatility following major token unlocks. With the price now trading below all key moving averages and technicals signaling oversold conditions yet dominated by sellers, close attention should be paid to the risk of a deeper move if near-term support at $0.0793 fails.

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.