Ethena (ENA) is currently trading at $0.215869, having experienced a significant 24-hour decline of 9.42%. The daily price range indicates volatility, with a high of $0.239565 and a low of $0.215448, reflecting a daily range of 0.024117%.

The trading volume stands at 192,054,234 ENA, which accounts for 11.57% of the market cap, suggesting active trading. However, the hourly moving averages indicate a bearish trend, with all significant SMAs showing declines ranging from -1.18% to -13.66%.

Momentum indicators show weakness, with the 1-hour RSI at an extremely low 17, indicating oversold conditions. The 7-day RSI of 35 reinforces this bearish sentiment, as it approaches the oversold threshold, while the 7-day, 14-day, and 30-day price changes are all negative, showing consistent downward pressure.

Given that ENA is trading significantly below its all-time high of $1.52, reached on April 11, 2024, there is considerable room for recovery. However, with a recent downward trajectory and a series of negative price changes, the current technical indicators suggest a lack of immediate buying momentum.

Considering the overall bearish outlook, the high levels of selling pressure, and the negative technical indicators, the recommendation is to Hold. This strategy allows for potential recovery as the market stabilizes and oversold conditions improve, while avoiding the risk of further losses in the short term.