Ethena (ENA) is currently priced at $0.208356, reflecting a 24-hour decline of approximately 1.99%. The asset has experienced a daily range of $0.009111, with a high of $0.213758 and a low of $0.204647, indicating volatility within a tight band.

Trading volume stands at 106,886,462, representing 6.67% of the market cap, suggesting moderate investor interest. However, the negative trend in the 7-day RSI at 47, along with the 1-hour RSI of 42, signals potential bearish momentum as the asset struggles to maintain upward price action.

The moving averages are predominantly negative, with the 8 SMA at $0.2088 showing a decrease of 0.21% and the 21 SMA at $0.2105 down 1.02%. This alignment of moving averages indicates a prevailing downtrend, contributing to the overall bearish sentiment in the market for ENA.

In the broader context, the 7-day price change shows a significant drop of approximately 11.14%, and the 14-day and 30-day price changes reflect declines of 23.50% and 14.29%, respectively. Such sustained downward pressure raises concerns about the asset's short-term viability and investor confidence.

With the all-time high of $1.52 reached on April 11, 2024, ENA has a considerable distance to recover, highlighting potential for future upside but also underscoring the current underperformance. The lack of positive momentum and persistent declines suggest that entering the market now could expose investors to further losses.

Given the current technical indicators and the negative price momentum, the recommendation for Ethena (ENA) is to Sell. The bearish trend, coupled with the significant losses over multiple time frames, supports this rating as a prudent approach to mitigate potential losses.