A recent $101 million Ethena token unlock has triggered a price drop for the cryptocurrency, raising concerns about the coin’s future trajectory. While some traders see a potential short-term rebound near $0.45, uncertainty surrounds the token’s next move as investors navigate heavy sell pressure. The article explores the impact of this significant token unlock on Ethena’s price and market sentiment, examining factors like trading activity, sentiment indicators, and upcoming supply releases. The authors discuss technical analysis and investor perspectives to offer insights into potential scenarios for ENA’s performance. Ultimately, the fate of Ethena rests on the bulls’ ability to defend key support levels near $0.45. **Whether this token will rally or succumb to further declines hinges on the market dynamics in play.**