Ethena token drops over 10% but shows signs of recovery near key support zone.

Ethena (ENA) fell more than 10% on May 23, nearing a critical demand zone between $0.0760 and $0.0809, before slightly rebounding to around $0.1005 on May 24. Despite this bounce, the weekly chart remains weak with a nearly 6% decline, and selling pressure persists. Trading volume surged by over 46%, indicating strong market participation during the sell-off, with whale-sized orders appearing near recent lows. The token's next direction depends on whether buyers can defend the $0.0809 support; failure to hold could lead to further losses, while a strong defense might signal a short-term recovery.