ENA latest news: institutional buying lifts fee revenue despite persistent sell pressure

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Ethena drops 7.72% today on volatility

Highlights

Ethena (ENA) trades at $0.4292, below its MA-20, MA-50, and MA-200, reflecting persistent downside pressure across technical timeframes with nearest support at $0.394.
Ethena's cumulative fee revenue hit an all-time high of $578 million due to increased network usage and institutional buying despite a recent drop in total value locked.
After a 7.72% price drop to $0.4292, momentum and oscillator signals confirm strong bearish sentiment, with a very low probability (under 20%) of price increase over the next five days.

Record fee revenue and institutional flows offset value locked decline

Ethena's cumulative fee revenue reached an all-time high of $578 million, reflecting increased network usage and user growth driven by its synthetic dollar product USDe. This development highlights the platform's ability to maintain strong fundamentals despite a recent decline in total value locked. Elevated institutional buying activity has also contributed to recent resilience in the network.

Bearish momentum confirmed amid oscillator divergence and high volatility

Momentum signals are mixed: MACD on the daily chart indicates a strong sell, while ADX shows robust trend strength with a buy bias. Daily RSI stands at 37, signaling the asset is approaching oversold territory, and Stoch RSI highlights overbought conditions, creating a clear divergence. CCI is near neutral, and BBP is also neutral, suggesting no dominant force intraday, but the Awesome Oscillator supports further downside. The price has dropped $0.0359 or 7.72% today, without a significant gap between yesterday's close and today's open. ENA is currently near the lower end of today’s $0.4183–$0.4753 range, with high intraday volatility and clear selling pressure from the open. The combined momentum and daily performance confirm persistent bearish activity, though conflicting oscillator signals warn of possible short-term swings.

Further declines likely unless resistance at MA-50 is breached

For the next five trading days, ENA is expected to trade between $0.3284 and $0.3647 with an average near $0.3466. The probability of price increase is very low (less than 20%), making a further decline much more likely. In the baseline scenario, the price holds sideways within the projected weekly corridor. A bullish breakout would require a decisive move above the MA-50 near $0.6005. On the downside, a bearish scenario would see ENA slip below the Ichimoku support at $0.394, with further losses possible toward the weekly forecast low.

Viktoras Karapetjanc, senior analyst at Traders Union, sees Ethena’s recent price action as evidence of strong bearish momentum, but is encouraged by the platform’s record $578 million in cumulative fee revenue and ongoing institutional involvement. Despite ENA trading well below its major moving averages and technical signals pointing to further downside, Karapetjanc notes that the platform’s robust fundamentals and heightened adoption are positives for its longer-term outlook. The analyst maintains a cautiously optimistic stance, emphasizing that a period of consolidation could set the foundation for a sustainable recovery if resistance at $0.6005 is overcome. "If Ethena’s core adoption trends persist and risk sentiment improves, I believe a decisive move above $0.6005 could quickly reignite positive momentum for ENA," he concludes.

Previously it was noted that oscillator-momentum divergences suggested possible short-term uncertainty for ENA. The article also highlighted that broader signals remained mixed for the asset.

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.