Ethena: Strong selling pressure led to fresh lows and a bearish price prediction

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Ethena Drops 10.22% Today on Weakness

Highlights

Ethena (ENA) trades at $0.5379, below its MA-20 ($0.597) and MA-50 ($0.6605), but above long-term MA-200 support at $0.4569, signaling short- and medium-term selling pressure.
Institutional whale accumulation and the launch of suiUSDe on Sui blockchain support liquidity and confidence, with key re-entry levels observed and price floors established.
Momentum and oscillators are mixed to bearish, with a 10.22% daily drop and intraday prices near $0.533–$0.5521, while ENA faces likely consolidation between $0.4569 and $0.6589 short-term.

Whale accumulation builds as DeFi expansion boosts confidence

Ethena has advanced its position in decentralized finance by launching suiUSDe on the Sui blockchain, increasing liquidity and fostering cross-chain DeFi activity. Large-scale accumulation by whales, including several multimillion ENA token purchases, reflects growing institutional confidence and could set the stage for further demand if the DeFi trend holds. Recent trading has also seen notable new re-entry levels identified by observers, supporting the asset’s price floor.

Bearish momentum prevails as resistance and volatility heighten

The Kijun line from the Ichimoku indicator at $0.6589 acts as the closest dynamic resistance, and the MA-200 around $0.4569 defines the key support. Momentum signals are mixed — MACD shows clear selling pressure, but the ADX points to a strong trend in favor of buyers. Daily oscillators are weak to oversold: RSI sits at 42.87 (bearish), Stoch RSI is near neutral, and CCI indicates an oversold region. Sellers control intraday momentum with negative BBP values, and the Awesome Oscillator underlines the current bearish bias. The daily trading session opened at $0.5448, well below the prior close of $0.5991, opening with a gap down. Prices now sit near the day’s lower bound ($0.533–$0.5521), volatility remains elevated after a 10.22% drop, and momentum confirms the ongoing short-term weakness, though the strong ADX hints at underlying trend conviction.

Bearish bias persists as upside breakout odds remain low

Looking ahead, ENA is expected to range between $0.6455 and $0.6624 over the next week, with an average price near $0.6540. There is a very low probability (less than 20%) of a sustained upward move, making further decline the more likely path. The baseline scenario is consolidation between $0.4569 (support) and $0.6589 (resistance). A clear break above $0.6589 could signal a bullish reversal, while a move below $0.533 would expose the $0.4569 MA-200 region as the next major support.

Anton Kharitonov, expert at Traders Union, sees Ethena’s technical setup as pressured by short- and medium-term selling despite some longer-term support, and notes that sentiment is lifted somewhat by whale accumulation and DeFi expansion. However, he remains cautious given persistent bearish signals from key momentum and oscillator indicators, as well as the gap down and high volatility following a 10.22% drop. The analyst believes the base case remains a consolidation between $0.4569 and $0.6589, acknowledging that a sustained move above $0.6589 would be needed to increase confidence in a bullish reversal. "With sellers in control intraday and limited probability of a strong rebound, I am defensive until price convincingly reclaims $0.6589."

Last time we reported that momentum indicators pointed to a bearish short-term outlook, as dynamic resistance capped price action. Previously it was noted that sideways movement within an established support and resistance band was the most likely scenario.

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.