Ethena (ENA) has registered significant declines over the past few months, with the token facing major support at $0.10 as investors try to determine its direction over the short term.
At the time of writing, ENA is trading at $0.1209 with a 24-hour trading volume of $150.59 million and a market capitalization of $996.12 million. Over the last 24 hours, the token has fallen by 4.10%, and weekly, it is down 12%.
Ethena Price Slide Sparks Strategy
On February 8, 2026, Crypto analyst Crypto Patel pointed out the significant fall of Ethena from its all-time high price of around $6 to the current price in the range of $0.10, stating that “this is the $5 comeback story that nobody is talking about yet.”
Crypto Patel predicts that the $0.08 to $0.10 range could be the buying point for long-term investors, but the asset could fall to $0.06 again.
Patel suggests that the careful strategy is to invest as much as you can afford to hold for 2-3 years, consider Dollar Cost Averaging, and wait for confirmation if the price dips to $0.06.
Ethena (ENA) Faces Bearish Pressure
On the technical side, ENA’s Weekly Relative Strength Index (RSI) stands at 32.80, which is below the average of 37.19. This indicates that the token is not seeing much buying pressure.
The token is trading below major moving averages, and these are now acting as resistance levels for the token. The moving average ribbon ranges from $0.3042 to $0.3906.
The MACD is still in the negative zone, where the MACD line is -0.01535, the signal line is -0.07683, and the histogram is near -0.09218. This shows that the selling pressure is still in control.
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ENA Offers Long-Term Accumulation Opportunity
Even though the stock is currently 94% down from its all-time high, the stock could have considerable potential if the market conditions improve. Long-term investors could consider the stock at the current price levels, but they should be ready to hold the stock for several years at a stretch.
A strategic accumulation phase in the $0.08 to $0.10 price range has the potential to put investors in a good position for a possible rebound to higher targets in the future.
If investors are currently paying attention to the price action of ENA, there are long-term potential investment opportunities in its current accumulation phase.
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