Ethena (ENA) Slides Lower – Could This Emerging Pattern Spark a Bounce Back?

Date: Sun, Sept 28, 2025 | 10:20 AM GMT The cryptocurrency market is once again under pressure, with Bitcoin (BTC) and Ethereum (ETH) both recording weekly losses. Ethereum has dropped more than 10% and is now trading around the $4,000 mark. This broader weakness has weighed on several altcoins, including Ethena (ENA), which has been sliding lower. Over the past week, $ENA has fallen by more than 13%. But beneath the short-term weakness, the chart is hinting at a possible “Power of 3” (PO3) setup — a classic structure that could pave the way for a sharp rebound if confirmed.

Source: Coinmarketca Power of 3 Pattern in Play? On the 4H chart, ENA’s price action seems to be unfolding in line with the three phases of the Power of 3 pattern: Accumulation PhaseThrough August, ENA moved sideways inside a wide range between $0.8550 resistance and $0.6175 support. This consolidation phase often points to accumulation, with big players quietly loading up as volatility cools.

Ethena (ENA) 4H Chart/Coinsprobe (Source: Tradingview) Manipulation PhaseOn Sept 22, ENA slipped under the $0.6175 support and is now trading in the $0.5640 zone. This red-shaded area reflects the manipulation stage, where false breakdowns often flush out weaker hands before the market turns upward. What’s Next for ENA? Currently, ENA remains in the manipulation phase, with some room to drop further toward $0.5150 support. However, if buyers step in and reclaim the $0.6175 level, the setup could transition into the expansion phase — the most bullish leg of the structure. A breakout above $0.8570 would confirm this scenario, potentially setting ENA up for a strong rally and shifting market sentiment back in favor of the bulls. For now, traders are closely watching whether ENA can hold its ground in the red zone or if further downside is ahead before a meaningful reversal. Disclaimer: This article is for informational purposes only and not financial advice. Always do your own research before investing in cryptocurrencies.