Ethena trades near support as sellers maintain pressure
Ethena (ENA)
Editor:
Eugene Serbin
tradersunion.com reports that Ethena (ENA) is trading at $0.2323, marking a daily decline of 6.88%. The price remains below its key short- and medium-term moving averages, with longer-term support still intact. On the technical front, ENA/USD is trading below the H1 MA-20 at $0.2364 and MA-50 at $0.2447, but remains above the MA-200 at $0.1125.
The Ichimoku Kijun currently stands at $0.2399, reflecting immediate resistance. MACD is showing a strong sell signal, while ADX reinforces a negative bias. RSI and CCI both indicate selling conditions, and Bull/Bear Power also points to continued seller dominance.
Notably, Stoch RSI is overbought, which could signal short-term exhaustion on any attempted rebounds, and the Awesome Oscillator is neutral, offering no directional confirmation. Over the next 2–3 trading days, ENA is expected to trade within a range of $0.2173 to $0.2473. A bullish scenario would require a breakout above the $0.2399 Kijun resistance, while a bearish scenario involves a breakdown below $0.2173. The probability of a downward move is significantly higher than that of a reversal, with price most likely confined to this corridor.
How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 3 October 2026. Not the outlet's figures.
Whalio data shows a buy ratio of 71.8% over the last hour, compared to 52.4% over four hours and 52.2% over 24 hours. This indicates that buying pressure is building in the short term relative to the broader daily trend. The volume delta is positive at +$318,612 for the hour and +$118,349 for the four-hour period, suggesting net buying activity. Volume delta measures the difference between buy and sell volume, so positive values mean buyers are more aggressive than sellers. This net inflow contrasts with a negative cumulative volume delta of -$3,797,067 at the 24-hour close, indicating that earlier selling pressure has been partially offset by recent buying.
The latest daily buy ratio of 50.3% sits at the 71st percentile of the last 322 days, against a median of 49.0% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ENA, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.0%, making today's 52.2% a +4.2 points increase. However, spot volume was 0.72x the average, indicating lower-than-normal trading activity. Only one of the past seven days saw net buying, and the price has dropped 13.3% over eight days. The total volume delta for the week was -$17,355,459, showing a sustained outflow of capital. This suggests that while there is a slight uptick in buying today, the broader weekly trend remains bearish with low volume.