Ethena (ENA) has seen a sharp decline in its price, dropping 31% over the past week amid heightened market volatility. The token's price fell from $0.3917 to $0.3624 between November 1 and 2, marking a 10% daily loss. Trading volume also saw a significant decrease from $387.85 million on October 31 to $185.7 million on November 2, before rebounding 56.30% to $244.64 million. The market cap of Ethena has decreased to $2.77 billion, with its price now below critical moving averages of $0.3872 and $0.41. The Relative Strength Index (RSI) is at 30, suggesting the token may be oversold. Additional downward pressure is expected due to upcoming token unlocks valued at $63.05 million and a reduction in open futures contracts to $492.74 million.