Ethena (ENA) is currently trading at $0.181516, reflecting a 3.77% decline over the last 24 hours. The daily price action has ranged between $0.179233 and $0.188777, indicating a relatively tight trading range with a volatility of 0.009544%.

The trading volume stands at approximately 227.92 million ENA, contributing to a volume-to-market cap ratio of 15.77%. This suggests a significant level of trading activity relative to the market capitalization, which may indicate investor interest despite the price decline.

From a technical perspective, the hourly moving averages show a bearish trend, with the 8 SMA at $0.1816 and the 55 SMA at $0.1901 reflecting a decline of 4.52%. The RSI readings, with a 1-hour RSI at 45 and a 7-day RSI at 35, suggest that ENA is approaching oversold conditions but still lacks upward momentum in the short term.

Over the past week, ENA has experienced a significant decline of 26.37%, and over the last 14 days, the drop is even more pronounced at 27.29%. The 30-day change shows a decrease of 13.73%, indicating a persistent downward trend that should be closely monitored for potential support levels.

The all-time high of $1.52 reached on April 11, 2024, presents a stark contrast to the current price, underscoring the substantial retracement. This historical data can serve as a psychological resistance point for future price recovery, but the current downward trajectory must be addressed.

Given the current technical indicators and price action, a cautious approach is warranted. The confluence of bearish moving averages and low RSI suggests a potential for further downside in the near term.

Rating: Sell. The significant negative momentum, alongside the technical indicators and recent price performance, indicates that ENA may not be a suitable investment at this time. Waiting for signs of stabilization or a reversal pattern could provide a more favorable entry point.