ENA Faces Dreaded Drop as TD Sequential Flashes a Red Warning Light!

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Ethena (ENA) is apparently staring into the abyss of a price drop, with TD Sequential hinting at a potential plunge to $0.36 in the very near future.

Ah, Ethena (ENA)-a token that’s currently giving traders and investors a bit of a thrill, but not the good kind. The market is like a rollercoaster ride right now, and ENA seems to be heading toward a very questionable drop. Thanks to some rather ominous market signals, it looks like the price might dip faster than a rollercoaster’s sudden fall.

TD Sequential Throws Out a Red Flag (Again)

TD Sequential, that trusty technical indicator that has the ability to make or break your day, has now given the “sell” signal for Ethena. According to Ali Charts, this is the moment where ENA could potentially fall to $0.35, if it doesn’t get its act together. This pattern-oh, it’s just one of those moments where the market decides to make a sudden U-turn. Investors, get ready for a bumpy ride!

ENA/TetherUS | Source: Ali_Charts/X

At this very moment, ENA is hovering at $0.474, which is just above its support levels of $0.452, $0.421, and $0.394. But here’s the kicker: despite all the drama, technical indicators are giving a rather bearish outlook. The question is: will ENA hold strong above those supports, or is it going to crumble like an overcooked biscuit?

Oh, and the Fear & Greed index? It’s sitting at a solid 29-practically screaming “Be cautious!” It’s like the universe is warning you: don’t get too comfy. The Fear & Greed index suggests investors are getting twitchy, with possible short-term selling pressure hanging over their heads like a dark cloud. Meanwhile, the longer-term outlook remains somewhat hopeful. Well, isn’t that just typical?

ENA’s Wild Ride: What’s Happened Recently?

So, what’s been going on with ENA lately? Well, not much to celebrate. Over the past month, the price has taken a tumble of about 28.57%. Ouch! But hey, it’s not all bad news-the one-year change still shows a respectable gain of 21.25%. Remember that one-time all-time high of $1.52 back in April 2024? Yeah, ENA is now playing a different game, stuck somewhere in the middle of its new trading range.

To complicate things further, moving averages are offering a mixed bag of advice. Short-term moving averages (you know, the 3-day and 5-day ones) are waving a big “sell” flag. But, hold on to your seats, because the longer-term moving averages (50-day and 200-day) are waving the “bullish” flag like they just won the Super Bowl. Can someone please make up their mind?

Resistance levels are also lurking out there, with $0.510, $0.537, and $0.569 all playing the part of the pesky little hurdles that could prevent ENA from climbing back up. Meanwhile, the RSI is just sitting there like “I’m neutral, please don’t bother me,” sitting at a perfectly unexciting 44.7.

Is There Hope? Well, Maybe-But Only If You Look Hard Enough

Now for some investor drama. Ethena’s co-founder, Guy Young, recently dropped over $20 million on ENA tokens. Seems like someone’s got faith in the long-term prospects of this thing. But, let’s be honest, even this bold move doesn’t erase the fact that the short-term outlook is looking a bit… ominous.

The project is also packed with some nifty features, like the USDe synthetic dollar, which uses staked Ethereum and short futures for stability. It’s a bit like trying to hold your house up with toothpicks, but sure, why not? Plus, Binance’s CZ has invested in it, so it must have some merit, right?

As the ENA ecosystem grows, it’s tied very closely to Ethereum. And if Ethereum sneezes, ENA might catch a cold. Analysts are still scratching their heads, but one thing is clear: if ENA can’t hold onto that $0.452 support, it’s heading straight for $0.36 faster than you can say “crypto crash.”

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2025-10-20 15:52