Ethena: Seller momentum led to a 7.86% drop and weekly lower targets

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Ethena slides 7.86% today

Highlights

Ethena (ENA) trades at $0.4241, below MA-20 ($0.4503), MA-50 ($0.5635), and MA-200 ($0.4684), signaling persistent selling pressure across all timeframes.
Daily momentum is negative with MACD and Awesome Oscillator aligned bearish, daily RSI neutral, and session down 7.86% after gapping from $0.4603 to $0.4429.
For the coming week, projected ENA trading range is $0.4062–$0.4314 with probability of an upward move below 20%, and further downside favored if $0.4163 breaks.

Divergent momentum and high volatility as sellers maintain edge

Momentum readings are mixed: D1 MACD suggests strong selling pressure while ADX points to sustained trend strength, indicating a possible tug-of-war as the daily RSI sits in neutral territory. Stoch RSI fluctuates between neutral and oversold, while the CCI is also neutral. Bull/Bear Power is negative, confirming that sellers dominate intraday price action. The Awesome Oscillator aligns with the broader downtrend. The session opened with a mild gap down from $0.4603 to $0.4429, and the price is now near the day’s low after losing 7.86%. Intraday volatility is high, with continuous pressure after the open; conflicting oscillators and momentum signals reveal a divergence between short-term exhaustion and persistent selling momentum.

Further downside risk as upside breakout probability remains weak

For the week ahead, the projected trading range is $0.4062–$0.4314. The probability of an upward move is very low (less than 20%), so further downside remains the more likely scenario. The baseline scenario sees ENA consolidating in a sideways corridor between current support and resistance. The bullish scenario would require a break and close above $0.4503 to open up higher levels. In a bearish scenario, a move below $0.4163 would expose the weekly low at $0.4062 and potentially invite deeper declines.

Anton Kharitonov, expert at Traders Union, highlights that ENA is trapped in a persistent downtrend, with price action remaining heavy below all major moving averages and short-term momentum deeply bearish. He notes a critical lack of bullish catalysts, underscored by absent news flow and conflicting oscillator readings, which point to short-term exhaustion yet sustained seller control. Kharitonov maintains a defensive tactical outlook, favoring further downside as long as major resistance at $0.4503 remains intact. "Unless ENA reclaims $0.4503 on a closing basis, I see no reason to expect a sustained recovery — caution is warranted here."

Last time we reported that persistent selling pressure in the market was confirmed amid oscillator divergence. The article also noted that momentum signals for ENA were mixed, with some indicators pointing to further downside, as highlighted in persistent selling pressure in the market.

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.