The post ENA price nears critical support with bearish structure still intact appeared on BitcoinEthereumNews.com.

Ethena is trading near its yearly lows at key support. If bulls defend this level, a rotation back toward the range highs could be in play, but confirmation is still needed. Ethena (ENA) has been range-bound between a high time-frame support at $0.21 and major resistance at $0.47, creating a broad consolidation zone that may define price action over the coming weeks and months. Currently, ENA is sitting at the lower end of this range near $0.22, just above the yearly low. This level marks a critical decision point for both bulls and bears. Key technical points Trading Range: $0.21 (support) to $0.47 (resistance) defines the current macro structure. Value Area Low Lost: Bearish rotation from value area high to low is now complete. Volume Spike at Support: Above-average volume at current levels suggests interest from buyers. ENAUSDT (1D) Chart, Source: TradingView From a technical perspective, ENA’s current position reflects a completed bearish auction rotation. Price previously rejected the value area high, then the point of control, and has now dropped through the value area low, fulfilling the downward move. With price consolidating near the $0.21–$0.22 support zone, the market is at a key inflection point. If $0.22 fails to hold, a further drop toward the swing low becomes increasingly probable. However, if bulls can defend this level, or if a deviation below the lows traps sellers, a reclaim could trigger a rotation back toward the mid-range and eventually to the high time-frame resistance at $0.47. An important supporting factor is the volume profile. Volume at current levels is above average, indicating that demand may be returning around this support zone. This could signal that buyers are accumulating, but the market structure remains bearish for now. A shift in structure, such as a higher low followed by a breakout above…

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Filed under: News - @ June 27, 2025 1:18 am