Ethena (ENA) is currently priced at $0.317968, reflecting a 24-hour decline of 4.73%. The asset has seen a daily range between $0.313532 and $0.348911, indicating heightened volatility and a significant retracement from the recent high.

The trading volume stands at 291,661,423, with a volume-to-market cap ratio of 15.67%, suggesting active trading but with downward pressure on price. The hourly moving averages indicate a bearish trend, with all key SMAs showing negative percentages, particularly the 8 SMA at -5.70% and the 13 SMA at -6.12%.

Momentum indicators such as the 1-hour RSI at 25 reflect extreme oversold conditions, signaling potential for a short-term rebound. However, the 7-day RSI at 43 suggests a lack of bullish momentum, with the asset having lost approximately 16.69% over the past week and 19.47% over the past 14 days.

Despite the 30-day price change showing a positive shift of 17.43%, the overall trend remains negative, compounded by a significant distance from the all-time high of $1.52 reached in April 2024. This context indicates that while there is potential for recovery, the recent performance underscores significant selling pressure.

Considering the current technical indicators and fundamental data, the outlook for Ethena (ENA) remains cautious. A Sell rating is warranted due to persistent bearish trends, weak momentum, and the inability to maintain higher price levels over the short to medium term.