Ethena (ENA) Token: Breakthrough Key Points and Market Sentiment Analysis
Jul 02, 2025 pm 06:06 PMInterpret Ethena's ENA token: key prices, market sentiment and future outlook. Is the rebound coming soon, or will it fall further?
Ethena’s ENA token is in a volatile market environment. This article will focus on its important price points, evaluate current market sentiment, and explore the potential future paths of this highly-watched DeFi asset.
Analysis of Ethena, ENA tokens and core price levels
The Ethena protocol is built on Ethereum and is committed to creating a stablecoin alternative native to the crypto space. Its main assets include USDe (synthetic dollar stablecoin) and ENA (government token). ENA holders have the right to govern the agreement and can participate in decisions such as risk control, asset allocation and system upgrades. Since the total amount of the token is set to 15 billion, its price changes continue to be closely watched by investors and the DeFi field.
Latest price trends and token release impacts
As of July 2, ENA was trading at about $0.25, showing a recent downward trend. About 40.63 million ENAs (valued at approximately US$10.34 million) were released, accounting for 0.67% of the circulating supply, bringing some market uncertainty. Although the previous release did not trigger obvious selling pressure, this release is at the stage of decline in trading volume and derivative activity. Trading volume fell nearly 29% to $115 million in the past day, and derivatives turnover also fell by 37.7% to $316.75 million. Open contracts fell slightly to $319.06 million, reflecting the tendency of traders to be conservative.
Technical analysis: The game between long and short
Technical indicators show contradictory signals. The main moving average issuance and sells. The token price is currently running below the 20-day EMA and SMA moving averages, and the short-term momentum is relatively weak. RSI is close to the oversold zone but is still in the neutral zone. Momentum indicators and MACD show initial signs of stabilization, but no clear reversal has been formed. The narrowing of the Bollinger band indicates a weaker volatility, and prices close to the lower track may indicate a further downturn or rebound opportunity.
Observation of key support and resistance levels
At present, we need to focus on the support area around USD 0.25. If ENA can hold this position after the token is released and the trading volume rebounds, the price is expected to return to above $0.28. Once the closing price exceeds $0.28, it may continue to challenge the $0.30–0.32 range. On the contrary, if the USD 0.25 falls, especially in the sluggish trading volume, the token may face further downward pressure. An effective break below $0.245 will damage the structure and may push the price down to the $0.22–0.23 region.
Reversal signal appears: bullish conditions gradually form
Although there are still pressure in the short term, some bullish signals have emerged. RSI began to stabilize and formed a potential bullish divergence from the price trend, indicating that selling pressure may slow down. The MACD also showed signs of bottom structure, and the MACD line tended to level up and approached the signal line. If a gold cross appears, the beginning of the kinetic energy conversion will be confirmed.
What is the unique strength of Ethena
Ethena stands out with its innovative product USDe stablecoin, this synthetic dollar passes
The above is the detailed content of Ethena (ENA) Token: Breakthrough Key Points and Market Sentiment Analysis. For more information, please follow other related articles on the PHP Chinese website!

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