- ENA trades at $0.2402 after a 15.2% weekly decline, while support remains established at $0.2347.
- The token continues testing a 4-hour downtrend line that has guided price since early November.
- Resistance stands at $0.2482, marking the upper boundary of the current 24-hour trading range.
Ethena’s ENA token approached its downtrend line on the 4-hour timeframe as market activity tightened near the lower boundary of its recent structure. The asset traded at $0.2402 after a 15.2% weekly decline, while support remained set at $0.2347. This level held through several intraday moves and formed a base for the latest price interaction with the trend line.
The 24-hour range spanned $0.2347 to $0.2482 and kept the chart inside a narrow band ahead of the next directional move. The current position placed ENA directly under a descending trend line that extended across multiple sessions, creating a clear reference for the market. This setup linked the short-term recovery attempts with the broader downward structure that shaped the past week.
ENA Approaches Trend Line After Steady Weekly Decline
The downtrend stretched across the entire month and connected a sequence of lower highs . Price continued to move under this line through the recent sessions, yet the latest candles pressed closer to the boundary.
This movement offered a clearer view of how the market reacted after the prolonged drawdown. Notably, the price stayed stable above the support level while pushing toward the upper boundary. This positioning tied the current 4-hour structure to the earlier stages of the decline and provided context for the reaction taking shape.
Market Holds Support Zone While Monitoring Short-Term Structure
As the market held the $0.2347 support zone, trading behavior stayed consistent across several candles. The short-term range remained tight, and each move aligned with levels already visible across the chart.
ENA continued to trade between $0.2347 and $0.2482, creating a defined band around the trend line. However, the structure also showed enough space for movement on either side, giving traders clearer references. This focus on the mid-range helped connect the current move with the wider decline that unfolded earlier.
Chart Displays Measured Upside Area Marked on the 4-Hour Frame
The chart highlighted a potential upside zone that extended significantly above current levels. This zone represented a measured region placed on the right side of the chart. The area showed a target located around the 50% to 70% range above the current price.
This reference marked a possible extension point if the trend line breaks, and it aligned with the observed structure on the chart. The marked space also connected directly with the lines drawn across the trend, offering a clear upper boundary for the next stage of movement.
