Ethereum News Today: Ethena Falls Below $0.55 Support, Bearish Momentum Intensifies in July 2025

Ethena (ENA) has broken below the key $0.55 support level, marking a significant technical breakdown and intensifying bearish momentum in late July 2025. As of August 2, 2025, ENA traded at $0.5428, reflecting a 1.7% decline on the 4-hour chart [1]. This move triggered immediate concern among traders and analysts, many of whom now view $0.49 as the next critical price level to monitor [2].

The recent price action on the 4-hour chart shows a clear shift in momentum. Candles formed between July 27 and August 1 indicate a descending triangle pattern, a classic bearish continuation formation. Volume clusters have shifted lower, suggesting a growing imbalance in liquidity. The dense node between $0.53 and $0.55 had previously acted as support but is now seen as a failed level [1]. Analysts, including respected chartist Ali, have highlighted the growing bearish pressure, noting that the next visible accumulation zone lies near $0.49 [2].

Volume profile bars on the left axis reveal that the majority of trading activity has been concentrated between $0.54 and $0.60. A sustained move below this range could accelerate the sell-off and bring ENA closer to $0.49. Over the past 48 hours, multiple attempts to push above $0.56 have failed, amplifying selling pressure and reinforcing the bearish narrative [1].

Traders are now watching for signs of support near $0.49, such as bullish divergence or a volume spike, which could indicate a short-term floor. If these signals emerge, they may hint at a potential rebound. However, without a strong reversal, the bearish structure is likely to persist. Some traders on X have expressed concern, with comments like “We cooked hard,” reflecting the rapid and unexpected nature of the breakdown [1].

If ENA were to break below $0.49 without meaningful buyer interest, the next logical target would be near $0.45. However, this level is not clearly defined, and the lack of nearby volume density suggests the price could move quickly through this zone. Traders are advised to remain cautious and monitor for sharp reversals or exhaustion patterns should ENA reach this area [1].

Despite the current bearish trend, some analysts remain cautiously optimistic. A $260 million token buyback plan has been cited as a potential catalyst for increased demand [6]. Additionally, ENA has been featured in several “top altcoins to buy” lists, with price targets ranging between $0.85 and $1.00 for mid-to-long-term gains [6]. These projections, however, are analyst forecasts and not indicative of current price movements [6].

The broader market environment has also contributed to ENA’s decline. Arthur Hayes, founder of Bitfinex, sold $13.3 million in Ethereum, Pepe, and ENA in mid-July, adding to the overall weakness in altcoin markets [3]. While Hayes maintains a bullish stance on Bitcoin, his offloading of altcoin assets reflects macroeconomic uncertainty affecting the sector [4]. Continued selling pressure was observed on July 29 as he offloaded more of his altcoin holdings [5].

Despite these challenges, ENA remains a focal point for traders due to its inclusion in DeFi yield strategies and the buyback program. The coming weeks will be crucial in determining whether ENA can retest $0.55 or if the bearish trend continues. Traders are advised to avoid entering trades without clear signals and to monitor key levels closely [2].

[1] https://coinmarketcap.com/community/articles/688f437731f6e26bea19327a/

[2] https://e.thsi.cn/img/17f2188426634cf3

[3] https://bravenewcoin.com/insights/crypto-market-crash-arthur-hayes-dumps-13-3m-in-ethereum-pepe-and-ethena-amid-u-s-tariff-concerns

[4] https://www.cointribune.com/en/arthur-hayes-offloads-eth-pepe-ena-without-touching-btc/

[6] https://cryptobrowser.io/news/top-bullish-cryptos-to-buy-now-with-explosive-growth-potential-blockdag-sei-ethena-and-sui/

[7] https://coinpedia.org/news/top-three-altcoins-to-buy-in-august-2025/

[9] https://www.binance.com/square/post/27733360887066