ENA Trades Near $0.2402 With 4h Chart Pressuring Major Downtrend Line

Source: CryptoNewsNet Original Title: ENA Trades Near $0.2402 With 4h Chart Pressuring Major Downtrend Line Original Link:

Price Movement and Support Levels

Ethena’s ENA token traded at $0.2402 after a 15.2% weekly decline, while support remained established at $0.2347. The asset approached its downtrend line on the 4-hour timeframe as market activity tightened near the lower boundary of its recent structure. This support level held through several intraday moves and formed a base for the latest price interaction with the trend line.

Current Trading Range

The 24-hour range spanned $0.2347 to $0.2482, keeping the chart inside a narrow band ahead of the next directional move. Resistance stood at $0.2482, marking the upper boundary of the current trading range. The token’s current position placed it directly under a descending trend line that extended across multiple sessions, creating a clear reference for the market.

Downtrend Structure

The downtrend stretched across the entire month and connected a sequence of lower highs. Price continued to move under this line through recent sessions, yet the latest candles pressed closer to the boundary. This setup linked short-term recovery attempts with the broader downward structure that shaped the past week.

As the market held the $0.2347 support zone, trading behavior stayed consistent across several candles. ENA continued to trade between $0.2347 and $0.2482, creating a defined band around the trend line with enough space for movement on either side.

Potential Upside Target

The chart highlighted a potential upside zone that extended significantly above current levels. This measured region represented a possible extension point if the trend line breaks, with target areas marked around the 50% to 70% range above the current price. This reference aligned with the observed structure on the chart and offered a clear upper boundary for the next stage of movement if an upside breakout occurs.