ENA Price Breakdown Below $0.61 Level Sparks Bearish Outlook Toward Lower Targets
Ethena faces selling pressure after $0.61 breakdown. Analysts warn of a possible decline toward $0.52 and $0.50 zones.
Ethena (ENA) has lost a key price level that traders have been watching closely. The token broke below the $0.61–$0.62 support band, and analysts now see risk of further downside as bearish signals strengthen across multiple timeframes.
ENA Breaks Key Support Zone
Ethena’s price has been on a steady decline since forming a lower high near $0.86 in mid-September. The crucial shift came when the token fell under the $0.61–$0.62 range, a level that had acted as support for several weeks.
After the breakdown, ENA briefly attempted to retest the zone from below but failed to hold. Analysts point to this rejection as a clear sign of selling pressure. Ali Charts noted that Ethena $ENA lost $0.61 support, opening the door for a drop to $0.50. Ethena is currently trading near $0.56, confirming the bearish structure.
Source: Ali Charts/X
Alpha Crypto Signal has also pointed to a double top formation on the daily chart, which confirms weakness. According to the group, “$ENA has clearly formed a double top pattern on the daily timeframe. After failing to reclaim the neckline around 0.60–0.62, ENA has broken down and is now trading below that zone.”
ENA Short-Term Levels to Watch
The short-term picture suggests a stair-step decline. Analysts identify guide levels around $0.59, $0.56, and $0.54 as price continues to trend lower. The next demand zone lies near $0.52, which traders see as the first area where support could emerge.
If $0.52 fails to hold, the next target is the psychological $0.50 mark. A sustained move below $0.50 could then bring attention to deeper levels such as $0.48, $0.46, and the $0.42–$0.43 region. These areas may become important checkpoints for traders assessing downside risk.
Market data also shows that trading volume has decreased sharply, with turnover falling more than 50% in recent sessions. This weakening participation may add weight to the bearish outlook if buying pressure does not return soon.
Broader Outlook on Higher Timeframes
On the three-day chart, analysts are watching $0.6398 as the key breakdown pivot and first resistance level to reclaim. Umair Crypto noted that below this zone, Ethena faces limited support until the moving average near $0.46 and a demand band at $0.39–$0.42.
Source: Umair Crypto/X
If the $0.46 level fails, some analysts warn that the door could open toward the $0.25 region. However, a bounce from the $0.39–$0.42 area could allow ENA to recover toward $0.80 or even $1.20, but only if the token reclaims $0.64 and breaks through higher resistance levels at $0.78–$0.86.
Until then, the structure favors downside, and any retest of the $0.60–$0.62 zone may remain an opportunity for sellers. Analysts continue to monitor the $0.52, $0.50, and $0.46 levels as the most immediate areas of interest in the current bearish setup.
The post ENA Price Breakdown Below $0.61 Level Sparks Bearish Outlook Toward Lower Targets appeared first on Live Bitcoin News.
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