Ethana Price approaches crucial support at $0.61, leaving traders deliberating over potential rebound or breakdown
The cryptocurrency market is keeping a close eye on ENA, with the token currently trading at $0.7285, sandwiched between its recent highs and the defined floor at $0.61. This crucial support level, first identified by analyst Ali on September 16, 2025, has historically proven to be a strong floor for ENA.
The narrowing trading range leaves little room before ENA collides with its highlighted defense at $0.61. Holding above this level could pave the way for a technical rebound, potentially maintaining ENA within its broader trading structure. On the other hand, a clean break below $0.61 could lead to a deeper correction, extending downside pressure across lower chart levels.
The reaction at $0.61 could influence broader confidence in ENA trading. If ENA manages to hold at $0.61, it may serve as a springboard for renewed upside momentum. However, failure to hold at this level could erode near-term sentiment for ENA and potentially open the door to deeper corrections.
Multiple reactions to the $0.61 level have been recorded across prior sessions, making it a reference point for evaluating momentum shifts, liquidity decisions, and upcoming volatility in ENA's chart outlook. The pivotal question is whether Ethena can hold its ground at $0.61 or face deeper losses.
At press time, ENA traded at $0.7285 after sliding -1.85% during the session. This setup is considered make-or-break, potentially defining the path for upcoming sessions. Market watchers are tracking developments in ENA's price action at $0.61 in real time, as a successful defense at $0.61 may encourage buyers to build fresh positions.
A decisive move below $0.61 could open the door to deeper corrections, amplifying focus on ENA's immediate support zone. Such a bounce would maintain ENA within its broader trading structure, providing a potential opportunity for investors to enter or re-enter positions. The outcome at $0.61 could significantly impact the near-term trajectory of ENA's price action.
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