Ethena (ENA) price rose nearly 8% to about $0.21 on October 26, recovering from a month-long decline despite significant selling by Arthur Hayes, co-founder of BitMEX. Hayes sold millions of ENA tokens amid concerns over macroeconomic and geopolitical risks, contributing to recent downward pressure. However, increased trading volume and renewed social media interest suggest traders are reassessing ENA's technical outlook, with support near $0.20 and resistance around $0.23. Analysts remain divided on whether ENA will sustain a rally or face a longer correction, with some pointing to potential buying zones if prices fall further. Ethena's future outlook also hinges on its token economics and proposed revenue-linked buybacks, with some forecasts optimistic about long-term growth.
As of Oct 26, 2026 15:31 WIB, Ethena (ENA) is trading on Pluang at Rp3.767, showing a 1-day gain of 8.50%. The token's market cap stands at Rp49,77 trillion with a 24-hour trading volume of Rp7,98 trillion. Despite a slight majority of sell orders at 53%, the typical holding period remains 45 days, indicating steady investor interest in ENA.
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