Ethena narxENA

Ethena $ENA price has crashed by 57% from its highest level in December as sentiment in the crypto industry weakened. Ethena’s ( $ENA ) decline has mirrored that of most altcoins. For example, Ethereum has dropped by over 32% from its December peak, while Cardano $ADA has fallen by 45%. Despite the ongoing token crash, Ethena’s network continues to perform well. The total value locked in the network, or the USDe stablecoin market cap, has surged to over $6.12 billion, nearing its all-time high of $6.2 billion. USDe has now become the fourth-largest stablecoin in the industry, trailing only Tether, USD Coin, and USDS. Its 427,000 holders earn an annual return of approximately 10%, generated from arbitrage opportunities within the network. Ethena price technicals point to a comeback The daily chart shows that ENA formed a double-top pattern at $1.3065 between December and January. This pattern, characterized by two peaks and a neckline, at $0.8470 in this case, explains why ENA has plunged nearly 60% from its highest level this year. Ethena has also dropped below the 50-day moving average, signaling that bears remain in control. However, on the positive side, ENA is slowly forming a falling wedge pattern. The upper boundary of this pattern connects the highest swings since January, while the lower trendline links the lowest points since December. With the two lines nearing their confluence level, a bullish breakout may be imminent. A strong breakout could push the price higher, potentially retesting the double-top level at $1.3062, around 130% above the current price. The bullish outlook is further supported by oscillators approaching oversold levels. The Relative Strength Index (RSI) has dropped to 35 and is approaching the key oversold threshold of 30. Historically, assets tend to rebound upon reaching oversold conditions. However, a drop below the key support at $0.4425, represnting the lower boundary of the wedge, would invalidate this bullish scenario.

Here's the Analysis of $ENA : ENA going though a huge downtrend with huge pullbacks rejected the strong support zone of $0.48 - $0.50. Currently, price approaching towards the support area and can break below it. Better, need to wait for the market if price reached there, check for the market sentiments for going in buys.

On February 4, several altcoins have shown notable rebounds in the past 24 hours. TAO has surged by 38.23%, currently priced at $383. PENDLE has increased by 39.75%, with a current price of $3.156. RAY has risen by 37.23%, now quoted at $6.449. XRP has climbed by 31.11%, reaching a price of $2.76. SUI has advanced by 32.82%, with its current value at $3.61. Lastly, ENA has grown by 33.07%, now priced at $0.676.

According to Spot on Chain, the Trump family crypto project World Liberty has lost $51.7 million, or about 21%, from its $242.77 million cryptocurrency investment between January 19 and 31. Among them, ETH lost $36.7 million (-24.4%), WBTC lost $8 million (-12.1%), and ENA lost…

World Liberty Financial has experienced significant losses in its cryptocurrency investments following the implementation of new tariff policies by U.S. President Donald Trump. Between January 19 and 31, the company invested $243 million in digital assets, which have since depreciated by $51.7 million, marking a 21% decline. The breakdown of losses includes a $36.7 million decrease in Ethereum (ETH)$ETH , representing a 24.4% drop. Wrapped Bitcoin (WBTC)$WBTC investments fell by $8 million, a 12.1% decline, while ENA$ENA saw a substantial loss of $2.05 million, equating to a 43.7% decrease. These figures highlight the financial impact of the recent tariff changes on the company's cryptocurrency portfolio.