Drunken teens principally dance as if spellbound (10)
I believe the answer is:
fascinated
'spellbound' is the definition.
('fascinate' can be a synonym of 'spellbind')
'drunken teens principally dance as if' is the wordplay.
'drunken' indicates an anagram.
'principally' suggests taking the first letters.
The initial letter of 'teens' is 't'.
't'+'dance'+'as'+'if'='tdanceasif'
'tdanceasif' anagrammed gives 'FASCINATED'.
(Other definitions for fascinated that I've seen before include "Irresistably attracted" , "Captivated" , "captured" , "Bewitched, enthralled" , "spellbound" .)