Ethena price drops amid crypto rally, here are 3 pressure factors that made ENA weaken

Jakarta, Pintu News – In trading today, August 14, 2025, the price of the cryptocurrency Ethena (ENA) fell 4.48% in the last 24 hours to $0.761 or around Rp12,257 (exchange rate Rp16,107/USD). This drop comes at a time when most crypto markets, including Ethereum (ETH) which gained 7.67%, are rallying.

According to CMC AI’s (CoinMarketCap AI) analysis, there are three main factors driving ENA’s price weakness, namely profit-taking after the big rally, rejection at important technical levels, and sector rotation and liquidity concerns.

1. Profit-Taking After the Big Rally

ENA experienced a sharp rise of 27.8% in 7 days and 130% in the last 30 days, driven by the adoption of the USDe stablecoin and its $260 million buyback program. This significant rise encouraged short-term traders to secure profits near local highs.

Data from Nansen shows that whales with 100,000-1 million ENA holdings account for around 50% of supply, potentially increasing price volatility. A 27.7% drop in daily trading volume to $1.12 billion (approx. IDR 18.03 trillion) also indicates declining buying pressure.

2. Technical Rejection at Key Levels

Technically, ENA price faces resistance at $0.825 (approx. IDR 13 , 280), which coincides with the upper limit of the Bollinger Band and the 23.6% Fibonacci retracement level at $0.727 (approx. IDR 11,713). The daily Relative Strength Index (RSI) indicator stands at 71.77, indicating overbought conditions.

In addition, the positive MACD histogram (+0.01256) is starting to show weakening bullish momentum. If prices break below the 7-day simple moving average (SMA) at $0.742 (approx. IDR11,947), there is potential for prices to test support in the range of $0.65-$0.68 (approx. IDR10,469-Rp10,952).

3. Sector Rotation and Liquidity Concerns

As Ethereum and a number of major altcoins rallied, ENA’s “synthetic dollar” narrative competed with rising yields in other DeFi sectors. Concerns have also been raised regarding ENA’s $4.7 billion exposure to the Aave liquidity pool, according to a Chaos Labs report.

This has prompted some investors to shift funds to lower-risk assets such as ETH or stablecoins, especially amid broader market uncertainty. ENA’s correlation with Bitcoin (BTC) dominance stands at -0.78, signaling high sensitivity to crypto macro trend movements.

Conclusion: Cooling Phase After a Spike

The current decline in Ethena (ENA) prices reflects a natural cooling phase after the parabolic rise that occurred in the past month. Technical headwinds, profit-taking, as well as a shift in liquidity to other sectors are factors in the price suppression.

In terms of fundamentals, the growing adoption of USDe and the buyback program are still positive pillars for the ENA ecosystem. However, to avoid a deeper correction, the price needs to maintain the 50-day exponential moving average (EMA) level at $0.592.

Investors are advised to monitor the stability of USDe APY and potential bullish catalysts from large exchange listings such as Binance. Volatile crypto market conditions still require a cautious risk management approach.

Also Read: 7 Ethereum (ETH) Developments to Anticipate in 2025

Follow us on Google News to get the latest information about the world of crypto and blockchain technology. Check today‘ s bitcoin price, today’s solana price, pepe coin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• CoinMarketCap AI. Ethena (ENA) Price Today, August 14, 2025. Accessed August 14, 2025.