Ethena (ENA) is currently trading at $0.174332, experiencing a 24-hour decline of 3.22%. The daily price range has been relatively narrow, with a high of $0.183087 and a low of $0.17177, indicating a lack of volatility in the short term.

Volume stands at 178,762,339, representing 12.88% of the market cap, which suggests a moderate level of trading activity. The recent price action reflects a bearish trend, as evidenced by the moving averages; the 8 SMA, 13 SMA, and 21 SMA are all below the current price, indicating downward pressure, while the 144 SMA significantly lags, showing a long-term bearish sentiment.

Momentum indicators such as the 1-hour RSI at 32 indicate oversold conditions, while the 7-day RSI at 39 supports this bearish outlook. Over the past week, ENA has lost approximately 25.62%, contributing to a 14-day loss of nearly 24% and a 30-day decline of around 10.84%, further confirming the downtrend.

Given the significant distance from the all-time high of $1.52, achieved in April 2024, current valuations appear deeply depressed. Market sentiment remains weak, and unless there are strong catalysts to reverse this trend, the outlook for ENA appears grim.

Based on the technical indicators and the substantial recent price declines, a Sell rating is warranted. The ongoing downtrend, combined with oversold RSI values and negative momentum, suggests further downside risk before a potential recovery.