Ethena (ENA) is currently priced at $0.181097, reflecting a slight decline of 0.56% over the past 24 hours. The daily trading range has been relatively narrow, fluctuating between a low of $0.17177 and a high of $0.184644, indicating limited volatility in the short term.

The trading volume stands at approximately 208.94 million ENA, representing a volume-to-market cap ratio of 14.48%, suggesting a moderate level of trading activity. However, the 24-hour change in price shows that selling pressure may be present, as evidenced by the recent negative price action.

From a technical perspective, moving averages provide insight into the short-term trend. The 8-period SMA indicates a minor upward trend (+1.99%), while longer-term moving averages (55 SMA and 144 SMA) are trending downward, indicating potential bearish sentiment over the longer horizon.

The Relative Strength Index (RSI) readings further corroborate the bearish outlook. The 1-hour RSI at 45 suggests neutral momentum, while the 7-day RSI at 38 indicates oversold conditions, which may attract buyers looking for a rebound, although further downside risk exists.

Over the past week, ENA has declined by over 24%, highlighting a significant bearish trend. This decline is compounded by a 14-day price change of nearly -24%, signaling persistent weakness in market sentiment and investor confidence.

The all-time high for ENA stands at $1.52, recorded in April 2024, indicating substantial potential upside from current levels if recovery occurs. However, current prices are significantly below this peak, and the recent negative performance may suggest that a strong rebound is not imminent.

Given the technical indicators, RSI readings, and the ongoing bearish trend, the current outlook for Ethena is cautious. As such, a Hold rating is recommended, as it may be prudent to wait for clearer signs of a reversal or stabilization before making new investment decisions.