ENA Token Sees Potential Recovery Amidst Growing TVL and Ethena Security Milestone

After holding above $0.1367, Ethena's ENA token is showing signs of a potential recovery according to crypto analyst Bitcoin Meraklisi. The current chart structure remains constructive as long as ENA maintains this level.

The analyst identified $0.1912 as the first upside target if the recovery continues. A move toward $0.30 would represent the next major target, putting the focus on whether ENA can build enough momentum to move beyond its recent range.

ENA's TVL growth also adds fundamental support to the token's outlook. According to Domba.Eth, Ethena's TVL recently stood at around $5.21 billion, increasing 3.92% over seven days and 18.57% over 30 days.