#ENA $ETH Opportunities and Risks Balance

**Short-term** (1-3 months): Driven by technical factors and buyback, $1.0-$1.5 is the key target.

**Long-term**: Ecological expansion and fee conversion mechanism activation may promote value reassessment, but caution is needed regarding the selling pressure from large-scale unlocking in 2026.

> **Key Support/Resistance Levels**

> | Position | Price Range | Importance |

> |-------------|------------|--------------|

> | **Support Level** | $0.60-$0.65 | Whale Cost Zone |

> | **Breakthrough Level** | $0.80-$0.85 | Opens $1.0 Channel |

> | **Target Level** | $1.13-$1.50 | Fibonacci Extension |

> **Major Risk Overview**

> - **Unlocking Risk**: Over $1.1 billion tokens unlocking in the next 12 months

> - **Revenue Volatility**: Dependence on derivatives market funding rates

> - **Regulatory Uncertainty**: Global stablecoin policy tightening

Investors are advised to pay attention to: ① Weekly token unlocking data; ② Whether USDe circulation surpasses 6 billion (condition for fee conversion activation); ③ Whale address fluctuations. #ENA #ETH $ETH