Ethena (ENA) has declined by 17% over the last 24 hours, significantly impacted by large investors’ sell-offs. Retail investors are currently trying to stabilize prices with purchases over 1.59 million USD.
The price resistance level for ENA is identified at 0.378 USD, where substantial sell-off activity has been previously observed. This may lead to further price fluctuations if the resistance holds.
Despite a bearish market trend, significant development activity on Ethena’s platform suggests potential for future growth. Retail buybacks may play a key role in reversing the current price decline.
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