The cryptocurrency market is experiencing a significant upswing, with Bitcoin breaking through the $70,000 barrier and Ethereum nearing $4,000. Amidst this market resurgence, the Athena protocol is gaining momentum, with its Total Value Locked (TVL) surging to $2.75 billion, a remarkable 20% increase over the past two weeks ¹. This substantial growth in TVL is a clear indication of renewed user confidence and engagement in the Athena protocol.

*Key Highlights:*

- *Falling Wedge Pattern:* The formation of a falling wedge pattern indicates a potential recovery force, with the price of ENA breaking out of the correction trend.

- *Rising ENA Price:* The price of ENA is facing strong overhead supply at $1.18 resistance, with a potential to rise to $1.52 if the bullish pattern holds.

- *Intraday Trading Volume:* The intraday trading volume in Ethena is $310.2 million, indicating a 16% gain.

- *TVL Surge:* The TVL in the Ethena protocol has seen a significant increase, going parabolic once again, with a growth of nearly 20% over the past two weeks.

- *Renewed User Confidence:* The spike in TVL indicates a renewed interest and confidence in the Ethena protocol, suggesting that more users are locking their assets within the platform.

*Athena Protocol's TVL Soars 20%*

The Athena protocol's TVL has surged to $2.75 billion, marking an impressive rise of nearly 20% over the past two weeks. This growth in TVL indicates a renewed interest and confidence in the Ethena protocol, suggesting that more users are locking their assets within the platform. The spike in TVL is a positive indicator of the platform's health and popularity, reflecting increased user engagement and potential for further growth.

*Technical Indicators:*

- *Exponential Moving Average:* The ENA price jump above the 20- and 50-day EMA indicates that buyers are strengthening their grip over this asset.

- *Average Directional Index:* The ADX slope rising at 14% hints that the recovery trend is far from exhaustion, meaning Athena could ride a prolonged rally.

In conclusion, the Athena protocol is experiencing a significant surge in TVL, reaching $2.75 billion, indicating renewed user confidence and engagement. The price of ENA is facing strong overhead supply at $1.18 resistance, with a potential to rise to $1.52 if the bullish pattern holds. The growth in TVL is a positive indicator of the platform's health and popularity, reflecting increased user engagement and potential for further growth.