ENA Price Outlook: Unlock Risks, Rebound Signs & Key Levels

ENA’s Q4 Decline and Upcoming Token Unlocks

ENAUSD on Binance turned lower moving into late Q3. The token’s price has dropped 51%, since the start of Q4, largely unwinding the gains seen in July-June.

In recent developments, the spotlight is on the unlocking of 94,190,000 ENA on December 2.

Between December 1 and 8, a total of 212,500,000 tokens, valued at $52 mn, are slated for unlocking.

Investor Positioning and 2026 Expansion Plans

Crypto experts note that major investors boosted their allocations to ENA despite the downturn in late November.

Additionally, the project reportedly plans to expand collateralization facilities in 2026 (with Bitcoin to be added as collateral for USDe) and roll out cross-chain deployment to boost liquidity for USDe and sUSDe, which will become available to users across multiple ecosystems.

Technical Setup: Rebound Attempts and MA Deviation

From the TA standpoint, the daily timeframe reveals that a second attempt at an upward rebound is under way – after the first attempt in late November, when the price action climbed to $0.30.

The curve has already deviated markedly from its 200-day MA, meaning that an upward correction would be warranted.

Bullish Scenario: Double-Bottom and Upside Targets

Near-term, the bulls may form a classic double-bottom reversal pattern with a stronger upward correction.

Confirmation of this formation would require a breakout above $0.295 (the 23.6% Fibonacci retracement) and a firm close at higher levels.

Under this scenario, the first local target will likely be $0.326, after which a move toward $0.3775 could be in the cards.

Bearish Scenario: Breakdown Levels to Watch

Alternatively, a breakdown at $0.22 would allow the bears to set their sights on $0.195, posing the risk of ENA slipping below previous all-time lows.