Ethena (ENA) has experienced a price decline to approximately $0.32 following a significant token unlock and a weak altcoin market. On November 5, over 171 million ENA tokens were released, increasing selling pressure and concerns about market dilution. This has led to the price breaking key support levels and trading below crucial moving averages. The broader altcoin market has also seen a downturn, declining nearly 8% this week as traders pivot towards Bitcoin for stability. ENA's 24-hour trading volume has decreased by nearly 30%, further contributing to the downward price trend.