Ethena (ENA) experienced a significant drop of over 10% on May 23, nearing a critical support zone between $0.0760 and $0.0809. By May 24, the token had slightly recovered to approximately $0.1005, though it remained down nearly 6% on the weekly chart. The decline was accompanied by a sharp increase in Spot Volume, which surged 46.63% to $76.84 million, indicating strong market participation during the sell-off. Despite the recovery, selling pressure persisted, and the market structure suggested a potential shift towards a sustained downtrend if the $0.0809 support zone fails to hold. Larger players showed increased activity near the lower price range, with whale-sized orders appearing, though sustained accumulation was not confirmed. The future movement of ENA will depend on whether buyers can maintain the support zone against renewed selling pressure.