ENA Price: 40M Tokens Set to Unlock
ENA Price– Ethena (ENA) is trading cautiously between $0.2507 and $0.2659, showing little movement as traders brace for a major token unlock. According to Tokenomist, 40.63 million ENA tokens worth $10.34 million will be unlocked on July 2, representing 0.67% of the circulating supply. With just 39% of ENA’s 15 billion total supply currently in circulation, the unlock is part of a long-term vesting schedule.
These unlocks often introduce short-term pressure by increasing sell-side liquidity. While past unlocks were absorbed with minimal lasting impact, today’s release comes amid falling volume and declining derivatives activity, adding uncertainty to the outlook.
Trading volume dropped 29% over the last 24 hours to $115 million, while Coinglass data shows a 37.7% decline in derivatives volume to $316.75 million. Open interest is also down slightly to $319.06 million, indicating trader caution ahead of the event.
Technical Indicators Remain Bearish
Ethena (ENA) continues to struggle below key moving averages, from the 10-day to the 200-day, all signaling weakness. The token is trading below both its 20-day EMA and SMA. The RSI sits at 41.4, nearing oversold territory, but still within neutral range. Bollinger Bands are narrowing, suggesting low volatility, with price hovering near the lower band.
If Ethena (ENA) holds the $0.25 support and absorbs the unlock without sharp declines, renewed buying could target $0.28, and potentially $0.30–$0.32. However, a break below $0.245 would expose the token to deeper losses toward the $0.22–$0.23 zone, weakening sentiment further.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
