Ethena price is showing signs of strength ahead of a critical token unlock scheduled for today that could reshape the market dynamics. The ENA token has climbed 6.01% in a day and maintained an 8.8% weekly uptrend, now trading around $0.6843 with a market cap of $4.53 billion. Daily trading volume has jumped 46.44% to $540.72 million, with price action spanning between $0.6098 and $0.6903 in the last 24 hours.
Today, approximately 40.6 million ENA tokens worth about $25 million will enter circulation. With only 42% of Ethena’s 15 billion total supply currently unlocked, this event could challenge the current rally’s momentum. Intriguing enough? Join me as I give you the potential price targets in this analysis.
The recent upside move has been fueled by two primary drivers: a $260 million foundation-led buyback program absorbing around 3.5% of circulating supply. And rapid adoption of USDe stablecoins following the GENIUS Act, which has doubled supply to $11.6 billion. These factors have bolstered investor confidence even as ENA faces significant technical resistance.
ENA price is testing the $0.70 barrier, with the next key level at the 23.6% Fibonacci retracement near $0.772. The MACD indicator suggests that the bearish momentum is weakening, opening the door for a potential breakout. A sustained close above $0.70 could pave the way toward $0.85–$0.95.
The RSI sits near 61.66, showing bullish momentum without reaching overbought territory. This gives room for further gains, though failure to maintain support at $0.65 could possibly lead to profit-taking and a retest of $0.56.
A $260M buyback program and strong USDe growth have reduced supply and boosted demand.
Resistance is at $0.70 and $0.772. Support lies at $0.65 and $0.56 if momentum fades.
The $25M unlock may create short-term selling pressure, but strong fundamentals could limit downside risk.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
India’s growing crypto potential has caught global attention. Binance CEO Richard Teng believes that the…
After months of spending its time in a range, with weak price action, now bullish…
Ripple has launched spot prime brokerage services for U.S.-based institutional clients, enabling them to trade…
Michael Saylor's "Strategy" purchased 397 Bitcoin for about $45.6 million at an average price of…
The crypto market is going through a nervous phase, and Ripple’s latest token unlock has…
The Chainlink price prediction 2025 is making the spotlight because the $100 mark per LINK…
