The prices of Ethena (ENA) and Lida DAO (LDO) have been on a downward trajectory, making them risky investments this week. ENA's price has plummeted by 50% since its June high of $1.07, with no signs of recovery. The price action shows the cryptocurrency breaking support levels and entering new lows.

While some technical indicators suggest a potential bullish retracement, the overall sentiment remains bearish. ENA's decline could be part of a broader bearish trend in the Ethereum ecosystem, as many Ethereum-based tokens cool off in anticipation of the launch of an ETH ETF in the coming months.

Similarly, Lida DAO (LDO) has experienced a sharp 20% drop in a single day, following the news of the SEC issuing a Wells notice to the protocol. The notice suggests potential enforcement actions against Lido's Ethereum staking practices, causing fear and uncertainty in the market.

Despite the recent price drops, some analysts believe the market's reaction may be an overreaction and predict a potential rebound for LDO. However, the regulatory uncertainty surrounding the protocol makes it a risky investment at the moment.

Investors should exercise caution and conduct thorough research before considering investing in ENA or LDO. The cryptocurrency market remains highly volatile, and these assets may continue to face downward pressure in the short term.

https://captainaltcoin.com/heres-why-ethena-ena-and-lida-dao-ldo-are-cryptos-to-avoid-this-week/

https://www.binance.com/en/square/post/6225626880922

https://www.fxempire.com/crypto/ethena/news

https://www.fxempire.com/crypto/lido-dao/news