Ethena’s Price Trajectory: Navigating a Bearish Trend with Potential Upside

Since its launch in April 2024, Ethena (ENA) token has experienced significant price volatility. The token reached its all-time high of $1.52 before encountering selling pressure and experiencing a downturn. Currently, ENA trades around $0.38 as it struggles to establish a stable range after months of downward movement. Analysts attribute the token’s recent performance to the persistent bearish trend.