Ethena (ENA) is currently priced at $0.173969, reflecting a 24-hour decrease of 2.91%. The price has fluctuated between a daily high of $0.179184 and a low of $0.17259, indicating a tight trading range of just 0.006594%, which suggests a lack of volatility in the short term.

The trading volume stands at approximately 71.88 million ENA, with a volume-to-market cap ratio of 5.19%. This relatively high volume indicates active trading interest but is not translating into significant price movement, as reflected by the downward price action over the last week, where ENA has declined by over 21%.

Technical indicators show that all short-term moving averages (8, 13, 21, and 55 SMA) are trending downward, which is a bearish signal. The 144 SMA, significantly above the current price at $0.1832, indicates a longer-term resistance level, suggesting that upward momentum is weak.

The Relative Strength Index (RSI) readings indicate that ENA is currently oversold, with a 1-hour RSI of 36 and a 7-day RSI of 38. This oversold condition could lead to a potential short-term bounce if buying interest returns, but overall momentum remains weak.

Over the past 30 days, ENA has experienced a decline of nearly 15%, and the longer-term downtrends of -21.37% over the past week and -23.69% over the past 14 days highlight persistent bearish sentiment. The all-time high of $1.52, achieved in April 2024, emphasizes the significant distance the current price has fallen, suggesting that current levels might not attract buyers until a clear reversal pattern is established.

Given the combination of bearish momentum, weak price action, and the lack of significant bullish signals, the recommendation is to hold ENA. This stance allows for observation of market conditions without incurring additional losses while monitoring for potential reversal signals or signs of bullish momentum.