Ethena (ENA) Price Prediction: Ethena Faces Turbulence Amid 17% Drop in a Week—Can Bulls Defend $0.61 Support?

In the last 24 hours, the token fell nearly 3%, accompanied by an 11% decline in ENA trading volume, which now stands around $524 million. Ethena’s market cap sits at approximately $4.3 billion, keeping it within the large-cap bracket but under evident selling pressure.

This decline reflects broader market weakness, driven by persistent U.S. inflation concerns and ongoing geopolitical uncertainty. Profit-taking and weak sentiment have shaken out short-term holders, leaving the next move dependent on whether $0.61 can hold as a key support level.

A closer look at the Ethena price chart suggests bearish control in the short term. The token is trading below the 9-day EMA ($0.69) and is approaching the lower Bollinger Band ($0.65). This puts Ethena at risk of sliding further unless buyers step in.

Ethena (ENAUSD) is forming a bullish leg within its long-term Triangle pattern, with a short-term target of 1.10500 following the recent 1D Golden Cross. Source: TradingShot on TradingView

• Ethena RSI analysis: Currently at 42.9, the indicator signals fading momentum. While not oversold, it is leaning toward reversal territory if selling persists.

• Ethena MACD signal: The MACD line remains below the signal line with a negative histogram, confirming a bearish divergence.

• ENA support and resistance levels: Key support rests at $0.61–$0.60, while immediate resistance lies at $0.6986 (9 EMA). A stronger recovery would require breaking $0.7396 (20 SMA) and ultimately the upper Bollinger Band near $0.8274.

A failure to hold $0.61 could expose ENA to a deeper correction toward $0.51, a level highlighted in historical price action.

Despite the recent slide, ENA whale activity suggests growing confidence in a rebound. Notably, crypto investor Arthur Hayes reportedly accumulated more than 3 million ENA tokens during last week’s dip, reversing a prior sell-off. Such moves highlight that long-term players may see current weakness as an entry point.

Arthur Hayes sold 7.76M ENA at $0.595 for $1.65M profit, then bought back 2.14M ENA at $0.816. Source: Lookonchain via X

Derivatives data also reveals a balanced market. Open interest fell by 4–18% across major platforms, reflecting reduced speculative appetite. Yet the long/short ratio on Binance stands at 2.93, with more than 74% of traders positioned long on ENA coin forecast. Funding rates remain stable, implying orderly trading conditions without excessive leverage.

Market watchers now consider $0.61–$0.60 as the defining battleground for Ethena. If the level holds, a rebound could lift ENA token price back toward $0.85 in the short term, with the potential to retest the all-time high near $1.32 if momentum returns later in the year.

If markets weaken, Ethena ($ENA) could drop to the $0.51–$0.53 support zone, which may serve as a key accumulation area if it holds. Source: Altcoinpedia via X

Longer-term models for ENA price prediction for 2025 range widely. Some forecasts suggest a possible rally toward $1.61, while more cautious scenarios warn of dips closer to $0.50 if bearish momentum dominates.

Still, Ethena’s fundamentals, including its DeFi protocol design, synthetic dollar (USDe) system, and prospects for Ethena staking rewards, keep investor interest alive.

Ethena is currently walking a tightrope between recovery and deeper losses. Technical indicators lean bearish, but whale accumulation and steady derivatives sentiment offer a counterbalance.

Ethena was trading at around $0.64, down 3.29% in the last 24 hours at press time. Source: Brave New Coin

Ethena is not expected to fall to zero, but its short-term survival depends on whether bulls can defend the $0.61 support level. If this level holds, the token has a clear path toward recovery.

In the coming weeks, traders should watch ENA support and resistance levels closely, along with macroeconomic catalysts such as U.S. monetary policy. The next move could define whether Ethena enters a new bullish cycle or extends its correction further.