- Ethena broke below $0.61 support, confirming a bearish continuation pattern, with focus shifting toward $0.56 and the psychological $0.50 support zone.
- The 4-hour chart shows lower highs and lower lows, reflecting growing selling pressure and weakening demand as ENA trends toward $0.50.
- Bulls face limited recovery prospects, with only a decisive reclaim of $0.62 offering potential stabilization above the current bearish trading structure.
Ethena (ENA) lost its $0.61 support level, confirming a bearish continuation and raising concerns of a potential decline toward the $0.50 region.
Breakdown Below $0.61 Strengthens Bearish Outlook
Ethena’s recent move below $0.61 has shifted sentiment toward sellers. The price previously held that level as strong support for buyers. The failed attempt to reclaim $0.61 has turned it into resistance, reinforcing downside momentum in the market.
A tweet from analyst Ali (@ali_charts) noted that Ethena’s break below $0.61 opened the door for a possible fall to $0.50. This level now stands as the next crucial test where buyers may attempt to slow the decline.
On the 4-hour chart, ENA continues to establish lower highs and lower lows. The structure signals weakening demand and persistent pressure from sellers, further validating the bearish trend.
Key Levels to Watch in the Near Term
The immediate zone of interest lies around $0.56, where short-term stabilization could emerge. However, the broader chart structure suggests the move may extend toward $0.50. That mark is not only psychological but also aligns with previous accumulation areas.
If $0.50 fails to hold, traders may look at the $0.44–$0.42 region as the next possible floor. Losing that range would erase gains from much of the summer rally, deepening the market correction.
The market pattern shows a stair-step style decline, often marked by short consolidations followed by new waves of selling. Such sequences have been visible in the recent chart setup.
Narrow Path for Bullish Recovery
For bullish momentum to regain ground, ENA must reclaim $0.62 with decisive strength. Until then, sentiment remains fragile, and the downside scenario dominates market expectations.
A sustained move above $0.62 could allow the token to stabilize and create the possibility of renewed buyer activity. Without that recovery, traders are more likely to monitor lower support areas.
At press time, ENA trades at $0.5614, showing a daily loss of 3.35% and a weekly decline of 14.05%. With volume at $130.8 million, the current trend favors caution as the token tests critical zones.
