Ethena Price Prediction 2025: ENA Struggles as Sell-Offs Gain Momentum

Key Takeaways

• Ethena’s ENA native token debuted on the market on April 2, 2024.
• It promptly joined the ranks of the top 100 cryptocurrencies by market capitalization.
• Our Ethena price prediction says ENA could fall to $0.146 this year.
• Interested in buying or selling ETHANA ENA coin? Read our review of the best exchanges to buy and sell ETHANA ENA.

Ethena’s ENA token debuted on the market on April 2, 2024, and has spent much of the time since then in the top 100 cryptos.

The synthetic dollar protocol has been on the upturn after falling to an all-time low in September.

October’s announcement of a proposal to add Solana to its reserves saw a further rise, and with the market blooming in late 2024, it enjoyed some time above $1 before dropping in early 2025.

On Feb. 20, 2025, ENA was worth about $0.4035.

Let’s take a look at our own Ethena price predictions. We’ll also examine the Ethena price history and talk a little about what Ethena is and what it does. 

Ethena Price Prediction

Let’s look at the ENA price predictions made by CCN on Feb. 20, 2025. We will use the wave count method to make the predictions, adding and removing 20% to create the minimum and maximum targets. 

Since there is less than one year of price history, we will only make an ENA prediction for 2025.

The most likely wave count suggests that ENA is mired in an A-B-C correction since its all-time high in April 2024. If the count is accurate, ENA is in wave C of this structure. 

Giving waves A:C the same length and duration leads to a low of $0.168 in May 2025. 

We will then add and remove 20% from this target to create the minimum and maximum predictions for the end of 2025. 

Doing so will lead to a range between $0.146 and $0.192 by the end of 2025.

Ethena Price Prediction 2025

The wave count method predicts an ENA price range between $0.146 and $0.192 by the end of 2025.

Ethena Price Analysis

The daily time frame does little to dissuade from the bearish trend. On the contrary, it shows that the ENA price broke down from a 145-day ascending support trend line on Feb. 6, suggesting that its upward movement is over.

Unlike the support trend line, the ENA price still follows a descending resistance trend line (dashed), which has contained a decline since the start of the year. The trend is considered bearish until the ENA price breaks out.

On top of this, technical indicators are bearish. The RSI and MACD are falling without signs of a reversal in place.

Short-Term Ethena Price Prediction

The Ethena price prediction for the next 24 hours is bearish. The short-term trend is considered bearish unless ENA breaks out from its resistance trend line.

Ethena Average True Range (ATR): ENA Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.

A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.

Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.

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On Feb. 20, 2025, ENA’s ATR was 0.0743, suggesting relatively high volatility.

Ethena Relative Strength Index (RSI): Is ENA Overbought or Oversold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold.

Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.

On Feb. 20, 2025, the Ethena RSI was 32, indicating bearish conditions, with ENA verging on becoming oversold.

Ethena Market Cap to TVL Ratio

The Total Value Locked (TVL) to market cap ratio (TVL ratio) measures the valuation of a decentralized finance (DeFi) project by comparing its market capitalization to the total value of assets locked in its smart contracts.

This ratio shows the project’s utilization and links the platform’s health to locked asset value.

A ratio above 1.0 indicates overvaluation because the market cap exceeds the value of assets used in the platform. A ratio below 1.0 indicates undervaluation because the market cap is lower than the value of locked assets.

On Feb. 20, 2025, the Ethena TVL ratio was 0.2, suggesting undervaluation.

CCN Strength Index

The CCN Strength Index combines an array of advanced market signals to measure the strength of individual cryptocurrencies over the last 30 days.

Every day, it assigns a strength score, ranging from 0 to 100, to the top 500 assets by market capitalization on CoinMarketCap, focusing on both trend direction and the intensity of price movements.

• 0 to 24: Assets exhibit significant weakness, showing signs of sustained downtrend behavior.
• 25 to 35: The price tends to move within stable bounds with minimal volatility.
• 36 to 49: Assets begin a stable uptrend but without strong surges.
• 50 to 59: Consistent growth with moderate price advances, building momentum.
• 60+: Sharp price movements and high demand indicate stronger volatility and trend shifts.

The index dynamically adapts to rapid changes. For example, an asset experiencing a 100% increase within a short timeframe would see a sharp jump in its score to reflect the intensity of the rise.

However, should that asset stabilize at this new price level, the score will gradually taper down and align with the dampened momentum as the movement normalizes. The same principle applies to rapid declines: a sudden drop will spike the score downward, but as volatility decreases, the score will slowly adjust back up.

On Feb. 20, 2025, Ethena scored 44.2 on the CCN Index, suggesting moderate momentum.

Ethena Price Performance Comparisons

At its heart, Ethena is a Decentralized Finance (DeFi) protocol, so let’s compare its recent performance to that of other cryptos in the same category with a similar market cap.

Ethena Price History

Let’s now take a look at some of the key dates in the Ethena price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting an Ethena price prediction

Ethena Market Cap

The market capitalization, or market cap, is the sum of the total number of ENA in circulation multiplied by its price.

On Feb. 20, 2025, Ethena’s market cap was $1.07 billion, making it the 67th-largest crypto by that metric.

Who Owns the Most Ethena (ENA)?

On Feb. 20, 2025, one wallet held more than 20% of the supply of Ethena.

Richest ENA Wallet Addresses

As of Feb. 2,0 2025, the five wallets with the most Ethena were

• 0xcfc40d4eca21f60d329f1e6b9b3d6069eaa20bbc. This wallet held 3,089,622,802 ENA or 20.6% of the supply.
• 0xc4e512313dd1ce0795f88ec5229778edf1fdf79b. This wallet held 2,800,000,000 ENA or 18.67% of the supply.
• 0x688ae58ebd684b3c475c81584f976593930ca67f. This wallet held 1,549,799,920 ENA or 10.33% of the supply.
• 0xb2af973905f05bc82bf97486b6ab883598d98298. This wallet held 1,363,095,866 ENA or 8.85% of the supply.
• 0x54b8c65f0635fd91c8729dd3269c630d9aed54e5. This wallet also held 1,317,747,126 ENA or 8.78% of the supply.

Ethena Supply and Distribution

From the Ethena Whitepaper

In its technical documentation or whitepaper , Ethena says it is “a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money, USDe, alongside a globally accessible dollar savings asset, side.” 

What Is Ethena?

Is Ethena a Good Investment?

It is hard to say. Ethena has settled into its position in the top 100 pretty well. However, one does have to ask whether something that carries the faint whiff of an algorithmic stablecoin has much of an appeal following 2022’s collapse of LUNA. That said, it has performed well when the market has gone up, so you should also keep an eye on the wilder world of crypto for any developments. 

As always with crypto, you should do your own research before deciding whether or not to invest in Ethena.

Will Ethena go up or down?

No one can really tell right now. While the Ethena crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind that prices can and do go down and up. 

Should I invest in Ethena?

Before you decide whether or not to invest in Ethena, you will have to research ENA and other related coins and tokens, such as Ethereum (ETH) and Solana (SOL). Either way, you must also ensure you never invest more money than you can afford to lose.

Technical analysis by Valdrin Tahiri.

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