Ethena (ENA) has experienced a significant decline in the last 24 hours, with a drop in price and market cap. The token's market cap decreased by 10.99% and its 24-hour trading volume fell 21.14%. The fully diluted valuation (FDV) and total value locked (TVL) remain high, indicating that most of ENA's value is locked in staking and liquidity pools. The trading chart indicates a bearish trend, with the Relative Strength Index (RSI) nearing the oversold zone and the Chaikin Money Flow (CMF) signaling negative capital flow. The price is trading below moving averages, confirming the bearish trend. Support levels are at $0.4200 and $0.4000, while resistance is at $0.4500. The short-term outlook remains bearish unless buying pressure increases. Traders should monitor the $0.4200 and $0.4500 levels for confirmation of the next move.



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