Ethena ($ENA ) is hovering around the $0.077–$0.080 macro floor. Massive fundamental catalysts are building: StablecoinX just debuted on NASDAQ under the ticker "USDE," holding 20% of the total ENA supply in its treasury, and the Ethena Risk Committee confirmed conditions are met to vote on activating the protocol fee switch (introducing ENA buybacks). Despite excellent on-chain growth, the token price remains heavily compressed due to systemic market liquidations, setting up a sharp divergence.
📍 Key Levels
Target (Resistance): $0.095 – $0.105 (200-day EMA cluster)