Ethena (ENA) is currently priced at $0.23211, experiencing a 24-hour decline of 1.93%. The daily range has been relatively tight, with a high of $0.239157 and a low of $0.226344, indicating limited volatility in the short term.

Trading volume stands at 156,389,601, with a volume-to-market cap ratio of 9.08%, suggesting moderate trading activity relative to its market capitalization. The hourly moving averages show a mixed trend, with the 8 SMA at $0.2299 indicating a slight upward momentum of 0.96%, while longer-term averages like the 55 SMA at $0.2433 and 144 SMA at $0.2590 indicate a bearish sentiment with declines of 4.58% and 10.39%, respectively.

The RSI metrics show a weakening momentum, with the 1-hour RSI at 44 and the 7-day RSI at 47, both suggesting a lack of buying pressure and potential oversold conditions. Over the past 30 days, ENA has seen a significant price drop of 48.48%, reflecting a prolonged downtrend since its all-time high of $1.52 in April 2024.

Given the bearish trend observed in both the moving averages and the RSI indicators, along with a substantial decline in price over the past month, the current outlook for ENA is cautious. The support level around the recent low of $0.226344 may provide a temporary cushion, but the overall trend suggests that further downside risk remains.

Rating: Sell. The combination of declining price, bearish moving averages, and lack of buying momentum indicates that it is prudent to exit positions or avoid new entries at this time.