Ethena’s ENA price has remained under strong pressure since September 2025 as sellers controlled the broader structure across the daily chart, according to the analyst ZAYK.
The ENA price dropped from about $0.90 toward the $0.07 to $0.08 range, reflecting a long and steady multi-month decline in market value.
The descending line starting from September 2025 has kept all the attempts at recovery in check, indicating the presence of an enduring bearish pattern for the specified duration.
The lower-highs pattern suggests that the bulls have not managed to gather strength after each bounce. This pattern is carefully observed by traders because its failure usually triggers a major move in such prolonged consolidation.
Source: X
ENA Price Stabilizes Near $0.07 Support as Buyers Regain Control
The ENA price action has recently stabilized because ENA has formed a steady base around the level of support at $0.07 after experiencing a prolonged selling trend.
Rising lows indicate that the buyers have started to gain some control after months of being weak. The ENA price action is on track to reach the descending resistance line.
This is the level that has prevented many rallies in the past, and hence, it is the level that determines short-term trends. Traders look at this level carefully since its break will change the short-term sentiment and attract investments in the asset.
Also Read: Coinbase Pre-IPO Perps Offer OpenAI and Anthropic Exposure to Traders
On-Chain Activity Surges With 5,057 Daily Active Addresses
According to Analyst Ali, the number of active addresses per day rose to 5,057, which is the highest figure recorded in the blockchain for November 2025. This happened after a massive 92% drop in value from highs in late 2025.
This type of activity suggests increasing interest and maybe even smart money around the current price of $0.09. In the event that the trendline breaks through volume, an advance to the range of $0.28 to $0.30 is expected.
Source: X
In the absence of increased volume, a rejection remains possible because the trendline has already acted as resistance in many attempts.
On-chain movements become more frequent in times when the market begins to recover. This occurs particularly at times when prices remain close to the resistance level, and the overall volatility of the chart becomes high.
It indicates that traders are beginning to accumulate cautiously. Despite everything being underperforming, there is an increase in the number of active addresses and prices trying to test crucial resistance levels from the technical point of view.
This leads to a more neutral market, which means that in the near future, a breakout as well as a rejection will be a possibility.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: MoonPay Entendre Acquisition Expands AI Finance Strategy
