ENA Soars 18% as December Breakout Gains Momentum: Is $0.65 the Next Target?

Buckle up. ENA just ripped an 18% gain in a single session, and the December breakout pattern is tightening like a coiled spring.

The Technical Setup

Forget the noise—charts don't lie. The price action is carving a classic consolidation pattern that screams 'impending move.' Every retest of support has been met with aggressive buying, building energy for a potential leg up. The 18% surge wasn't an anomaly; it was a warning shot.

Targets in Sight

All eyes are now on the $0.65 level. It's not just a random number—it represents the next major resistance zone where previous rallies have stalled. A clean break above that could open the floodgates, turning hesitant sideliners into frantic buyers chasing the pump. The market has a funny way of making the obvious target painfully difficult to reach, of course.

Market Mechanics at Play

This isn't happening in a vacuum. Liquidity is shifting, and momentum traders are piling into setups that show strength. The 'December breakout' narrative itself becomes a self-fulfilling prophecy as more eyes lock onto the same chart patterns. Just remember, for every trader betting on $0.65, there's a hedge fund quant building a short strategy around it—the ultimate cynical finance jab where your profit is literally someone else's loss.

The path is clear, but never easy. The breakout is strengthening. Now we see if the price has the conviction to follow through.

ENA price is once again reacting strongly to its historically proven demand zone between $0.20–$0.25, a region that previously triggered two major rallies. With improved market sentiment, Ethereum’s latest upgrade, and a new Ethena ETP (EENA) launch, the token is showing renewed upside potential. If momentum sustains, ENA price prediction December 2025 suggest a 150% rise could be possible.

ENA Price Reacts Again to Proven $0.20–$0.25 Demand Zone

The major key insight from this ENA price analysis is that its price has a deep technical relationship with the $0.20–$0.25 zone, as this region acted as a powerful launchpad twice.

In Q4 2024, ENA/USD surged over 500%, jumping from this support to hit $1.30 and in Q3 2025 same zone triggered a 290% rally to $0.87.

Notably, both rallies formed a descending triangle on the weekly chart, matching the current Q4 2025 WOULD be predicted to end in this zone, as well. Because ENA price today sits near $0.27, analysts anticipate that if the token breaches $0.40, a continuation toward $0.65 would mark a 150% rise, this becomes a realistic near-term target because it aligns with the pattern’s resisting downward upper trendline.

Bitcoin and Ethereum Momentum Boost ENA Price Today

Further strengthening this bullish case is improved broader market sentiment, led by the recent surge in Bitcoin and Ethereum. The BTC price USD has climbed from $92,950, gaining nearly 11% since December 1st. 

Meanwhile, ETH surged 13%, breaking above $3,075, supported by two major catalysts.

First, Bitcoin’s momentum revived the entire altcoin sector. Second, Ethereum’s network saw another significant upgrade, which is the Fusaka rollout on December 3rd. Building upon Pectra, Fusaka introduces peer data availability sampling, targeting 40%–60% lower Layer-2 fees. 

Since Ethena runs on Ethereum, this upgrade has indirectly supported ENA crypto’s latest demand surge, too.

As a result, ENA price USD jumped 18% intraday, lifting its market capitalization to $2.04 billion.

21Shares Launches Ethena ETP, Adding Institutional Tailwinds

Adding to the momentum, 21Shares announced the launch of the 21Shares Ethena ETP (EENA) on December 3rd, alongside the Morpho ETP. These products push their new fully physically backed ETP lineup to 16 in 2025, strengthening institutional access to ENA.

Today we’re proud to launch two new products: the 21shares Morpho ETP (MORPH) and the 21shares Ethena ETP (EENA). With these launches, we have now introduced 16 new fully physically backed ETPs in 2025. pic.twitter.com/pb1KbWwa2f

The debut of the ENA ETP enhances liquidity pathways for ENA crypto, increasing exposure among traditional investors and potentially supporting the broader ENA price forecast for December.