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Analysis

ENA Reclaims $0.80 as $10B TVL Fuels Bullish Momentum Toward $1.18 Target

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  • Analysts stress partial profit-taking as ENA eyes resistance at $1.249, $2.60, and $5.005.
  • ENA breaks past $0.80 after bullish pennant breakout, setting sights on $1.18 resistance.
  • Record $10B TVL fuels ENA’s price rally from $0.40 to current $0.84 levels.

Ethena (ENA) has moved above $0.80 for the first time since January as trading activity and total value locked (TVL) surge. Analysts say the breakout could lead the token toward the $1.18 level in the near term.

Price Rally and Resistance Levels

Crypto analyst Crypto Patel reported that ENA has gained 260% since his entry at $0.25. He said the asset has broken past resistance levels at $0.44 and $0.68. Patel pointed to the following resistance zones at $1.249, $2.60, and $5.005.

ENA Reclaims $0.80 as $10B TVL Fuels Bullish Momentum Toward $1.18 Target
ENA Resistance Level | Source: X

However, he advised caution and stated that greed has no limits. Patel noted that he prefers booking partial profits while holding a position during an uptrend. If momentum continues, his targets for ENA remain $1, $2, and $5.

Breakout From Bullish Pennant

According to Crypto Auris, ENA broke a bullish pennant pattern before climbing past $0.80. The move was followed by a retest, which he described as one of the strongest setups of the week.

Notably, Auris added that the breakout has produced an 80% gain so far. He confirmed taking partial profits and sees $1.18 as the next critical level.

ENA Reclaims $0.80 as $10B TVL Fuels Bullish Momentum Toward $1.18 Target
ENA bullish pennant pattern | Source: X

Auris noted that a rotation from Ethereum could accelerate gains, pointing to sector trends that could favor ENA. Partial profit-taking remains a common approach among traders tracking ENA’s performance.

TVL Reaches Record $10 Billion

Analyst Rand reported that ENA’s TVL reached $10 billion on August 9, 2025, citing data from Messari and DeFiLlama. This marks the highest level in the project’s history.

He said the rise in TVL occurred alongside a rally from below $0.40 to over $0.80. Rand added that the price action could move in line with the TVL breakout.

ENA Reclaims $0.80 as $10B TVL Fuels Bullish Momentum Toward $1.18 Target
Ethena TVL | Source: X

Meanwhile, as of press time, Ethena’s price was $0.839553, and its 24-hour trading volume is $1.61. Ethena has been up 12.44% in the last 24 hours.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Avatar of Olivia Stephanie

Olivia Stephanie

11 August 2025, 09:20:20 GMT +0000

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