Ethena (ENA) Price Analysis: May 25 – Is a Reversal Possible?

Ethena’s (ENA) price action this week has been marked by sharp volatility, dropping significantly after failing to break through the $0.42 resistance level. A rapid decline saw ENA plunge over 12% in just 24 hours, breaching its short-term trendline and crossing below both the 20 and 50 EMA on the 4-hour chart. The current price is consolidating between $0.36 and $0.38, aligning with the 0.382 Fibonacci retracement level and situated near the lower Bollinger Band. This key zone signifies a crucial battleground for bulls hoping to initiate a reversal.