Ethena takes a big dive in 2025 as Ethereum loses its bullish momentum. However, the recent shift of crypto market sentiment teases a comeback in the ENA price trend.
By Vishal Dixit
Edited by Julia Sakovich
Updated
3 mins read
As altcoins continue to gain momentum, with Bitcoin BTC $82 335 24h volatility: 2.2% Market cap: $1.63 T Vol. 24h: $20.48 B stuck at $98,000 levels, Ethena ENA $0.36 24h volatility: 4.9% Market cap: $1.91 B Vol. 24h: $117.47 M faces a battle of its own. It is taking a bullish stand at $0.50 psychological support, aiming for a reversal.
However, the recent whale activity warns of a potential extension in the correction phase. As the ENA price trend hits a crucial crossroads, bullish sentiments anticipate a reversal rally.
In the daily chart, the ENA price trend showcases a major downfall since the start of 2025. Taking a double-top reversal from $1.31, ENA price broke under the $1 psychological mark.
Ethena Price Chart
Furthermore, the downfall extended with the breakdown of the $0.90 supply zone. The ongoing bearish trend has led to a 61.51% drop over the past six weeks.
Furthermore, the downfall has created a local resistance trend line, keeping the bearish trend intact. Currently, ENA starts a sideways shift near the $0.48 demand zone, hinting at a potential reversal.
Supporting the bullish chances, the 5.37% intraday gain hints at a potential Morning Star pattern to kick-start a double-bottom reversal. The reversal rally will likely challenge the overhead resistance trend line and aim for a bullish breakout.
Supporting the bullish team, the technical indicators hint at a resurgence in buying pressure. The MACD and signal lines are on the verge of giving a positive crossover as the bearish histograms decline in intensity.
Furthermore, the daily RSI line is hinting at a potential bullish reversal from the oversold regions. Hence, the momentum indicators support the upside potential in ENA.
As Ethena stands at a crucial crossroads, the recent X post by SpotOnChain reveals one of the largest Ethena stakers turning bearish. The whale 0x8f9 has unstaked the entire 17.875 million ENA tokens worth $8.78 million.
After unstaking, the whale deposited the entire ENA tokens on Binance, likely preparing to sell them. Prior to staking, the whale had accumulated the ENA tokens at an average price of $1.167.
While the accumulation occurred mostly during the swing highs, a recent decision to sell will likely incur a major loss for the whale. If selling at the current market price, the whale could face a $12 million loss for more than a 50% loss.
This would mark one of the whale’s largest losing trades over the past 10 months.
The short-term analysis hints at a 15% potential to challenge the local resistance trend line. However, the breakout rally will significantly extend the bullish potential to 75% and challenge the $0.90 supply zone.
On the flip side, a bearish closing under $0.48 will likely drop the ENA prices to $0.30.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
