On March 4th, Ethena's ENA token price surged to a local high of $0.12, supported by increased open interest and trading volume, showing a short-term upward momentum. However, this rally was later met with resistance, and the price dropped 15% from the high. The long-term trend remains bearish, as the token has fallen approximately 50% over five weeks since breaking below the $0.21 support level in January. Technical indicators, including the Directional Movement Index (DMI) and Market Flow Index (MFI), confirm ongoing selling pressure. The next potential support level is around $0.085.

ENA-5,36%
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