Ethena (ENA) Plummets Below $0.30 as Bearish Signals Intensify

The altcoin Ethena (ENA) witnessed a significant decline in price today, falling below the crucial level of $0.30. Trading volume also plummeted by 41.31%, impacting its market cap to $1.62 billion and its TVL remained stable at $5.25 billion. The token’s trading activity is currently subdued, with a daily decline of 8.13%. While the market cap ratio shows persistent interest, analysts are anticipating a potential rebound. Ethena’s recent drop comes amidst intensified bearish signals, as evidenced by a sharp downward movement on the four-hour chart and a breakdown below the $0.30 level, which now functions as key resistance.