- Ethena (ENA) dropped 11.02% to $0.4251, with a market cap of $1.33B.
- Trading volume declined 21.14% to $221.1M, with a market cap ratio of 0.2197.
Ethena (ENA) dropped to $0.4251 before stabilizing at $0.4278, marking an 11.02% decline in the last 24 hours. The token’s market cap decreased by 10.99% to $1.33 billion, while its 24-hour trading volume fell 21.14% to $221.1 million.
The fully diluted valuation (FDV) stands at $6.41 billion, with a total value locked (TVL) of $6.11 billion. The market cap ratio is 0.2197, showing that most of ENA’s value remains locked in staking and liquidity pools.
Technical Indicators Signal Further Downtrend
The trading chart shows that Ethena (ENA) is in a bearish trend. The Relative Strength Index (RSI) is at 36.92, nearing the oversold zone. The RSI moving average is slightly above 40, indicating weak momentum. If RSI drops below 30, further selling pressure could push prices lower.
The Chaikin Money Flow (CMF) is at -0.25, signaling negative capital flow. This suggests that sellers are controlling the market. The moving averages confirm the bearish trend, with the price trading below the 50-day and 200-day moving averages. The absence of bullish crossovers indicates continued weakness.
Ethena has immediate support at $0.4200. If this level breaks, the next key support is at $0.4000. A move below this could trigger a drop toward $0.3800. On the upside, resistance is at $0.4500. A breakout above this could lead to $0.4800. If bulls push beyond $0.5000, sentiment may shift to bullish.
Ethena’s short-term outlook remains bearish unless buying pressure increases. The RSI and CMF suggest weak momentum, and the market structure points to continued declines. However, if the market rebounds and volume surges, ENA could test higher resistance levels. Traders should watch the $0.4200 and $0.4500 levels for confirmation of the next move.
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