Ethena Under Pressure: Trading Near $0.63, Key Support & Future Outlook

Ethena (ENA) faces ongoing market pressure as its price struggles to hold above the crucial support zone of $0.63. The token’s recent decline is reflected in trading volume which has increased by 10.94% to over $1.44B, while open interest has dropped slightly. Derivatives data indicate mixed signals with a long-to-short ratio on Binance reaching 2.41 and the overall market ratio at 0.92, suggesting caution for traders.