Ethena (ENA) is currently priced at $0.170149, reflecting a 5.03% increase over the past 24 hours. The daily trading range has been relatively tight, with a high of $0.170581 and a low of $0.16076, suggesting some consolidation following recent volatility.

The volume for the last 24 hours stands at 107,548,206 ENA, which represents 7.93% of the market cap, indicating strong trading activity. The moving averages reveal a mixed trend; shorter-term SMAs are showing positive momentum, while the 144 SMA indicates a bearish trend with a decline of 2.61%.

The 1-hour RSI is at 76, signaling overbought conditions, while the 7-day RSI at 46 suggests a neutral stance, indicating that recent price action may not be sustainable without further support. Over the past week, the price has decreased by approximately 12%, and the 14-day and 30-day changes show a more significant drop of around 21%, reflecting bearish sentiment in the medium term.

Despite the recent uptick, the significant drop from the all-time high of $1.52 in April 2024 suggests a loss of investor confidence. Continued trading volume in the face of declining price over the last month indicates potential selling pressure that could lead to further declines.

Given the current market conditions, with high short-term RSI readings and significant downward trends over longer periods, a cautious approach is warranted. Therefore, the recommendation is to Hold ENA at this time, as further confirmation of sustained bullish momentum is needed before considering a Buy position. A potential drop below $0.16076 could trigger a Sell signal if bearish momentum continues.