Last year I re-visited Elena of Avalor after originally losing interest during Season 2's hiatus back in 2018. My childhood love for the show was immediately re-invgorated, and I, like many others, saw so much that the show had done right. And having finished the series, I can definitely say my unpopular opinion that the show does not need a fourth season.
Everything about the show ended so well. I could go on and on about how, despite its shortcomings, Coronation Day was a near-perfect finale, but I will say that it did everything a finale should. It provided a natural conclusion to the characters and their story, using all of the show's respective strengths to the max. Elena becoming Queen was something that was built up since the first episode, and gradually progressed as the series went on up until that pivotal moment. To say the least, it's appropriate for this show to end at 3 seasons where it did.
A fourth season would just feel unnecessary and forced, since there's nowhere that the story could continue from. Shuriki and Ash are gone, Avalor and Vaestrella are safe, Esteban's betrayal of his familia has since been resolved, all of the villains are either defeated or reformed (especially Victor and Carla), every character is where they need to be, and most importantly, Elena is Queen. There's really no better way the story could go than where it ended off from.
This is also why I'm glad that Royal Magic is going to be a direct sequel to Sofia the First, rather than taking place after Coronation Day. Whether or not the series will be a good follow-up to the original is up in the air, but in terms of the expanded universe, whatever happens in the new series will largely leave the ending of Elena of Avalor left alone, which is good because it serves as a good finale to the EverRealm-verse.