Ethena (ENA) is currently priced at $0.130928, reflecting a 24-hour decline of 6.78%. The price has traded between a 24-hour high of $0.140861 and a low of $0.130908, indicating a narrow daily range of 0.009953%, suggesting low volatility in recent trading.

The volume of 184,263,748 ENA indicates significant trading activity, with a volume-to-market cap ratio of 17.10%. This elevated volume could imply heightened interest, but the persistent downward trend in price suggests potential selling pressure.

Technical indicators reflect bearish momentum, with hourly moving averages showing declines across all periods—most notably the 144 SMA at $0.1411, down 7.19%. The 1-hour RSI of 39 suggests a near-term oversold condition, while the 7-day RSI at 43 indicates weakness, leaving room for further downside.

Fundamentally, ENA has seen significant price depreciation over the past 30 days, with a decrease of 48.21%. The stark contrast between the current price and its all-time high of $1.52 achieved in April 2024 highlights a dramatic loss of value, raising concerns about market confidence and underlying fundamentals.

Given the recent price action, declining moving averages, and bearish RSI readings, the outlook for Ethena appears negative. Investors should consider a Sell rating as the current conditions do not support a recovery in the near term, especially with continued weakness in both technical and fundamental indicators.