The post Ethena’s price action issues ‘warning’ as ENA repeats June 2025 pattern appeared on BitcoinEthereumNews.com.

Ethena [ENA]  fell to a low of $0.235 on Monday after Bitcoin [BTC] momentarily dropped below the $84k-mark. Since then, Bitcoin has bounced by 3% in 12 hours, but ENA was only up 1.28% over the same period. This may be a warning of a lack of relative strength and an absence of Ethena buyers in the market. Sentiment seemed lukewarm at best, and losses appeared more likely than any meaningful recovery in the short term. The two timeframes – Mapping where Ethena stands Source: ENA/USDT on TradingView ENA was back at the $0.238 support that it had tested in late June. Back then, a two-week consolidation around this support level was followed by a rally beyond $0.8 by August. For the same scenario to repeat itself, market sentiment needs to become bullish. A risk-on attitude towards crypto and especially altcoins is needed. At the time of writing, this did not seem likely. In fact, ENA’s bearish structure on the daily timeframe is likely to persist. Source: ENA/USDT on TradingView The 1-hour chart exhibited some interesting behavior over the past two weeks. Consolidation phases have been marked in purple on the chart above. One was a channel, another was a rough triangle. The price action has been following Bitcoin and the wider market, and likes to build liquidity around key levels before hunting both longs and shorts down. Thereafter, the real impulse move can begin. If this were to happen again, a consolidation around $0.238, followed by the next impulse move, is highly likely. Based on the structure, more downside may be anticipated next. Technical health check On both the daily and hourly timeframes, the OBV has been trending downwards. It signified the persistent selling pressure. Any bounce in ENA prices is for selling. The RSI reflected a strong downward…

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Filed under: News - @ December 2, 2025 6:26 am