Ethena (ENA) is currently trading at $0.275103, marking a 4.51% increase over the last 24 hours. The price has fluctuated between a low of $0.251647 and a high of $0.276258 during this period, indicating a daily range of 9.80%, which suggests increased volatility.

The trading volume of 178,680,101 ENA reflects an active market, with a volume-to-market cap ratio of 8.45%. This level of trading activity, combined with the price increase, indicates bullish sentiment among traders, supported by a steady climb in the short-term moving averages, particularly the 8 SMA which is currently at $0.2583 with a 6.50% rise.

Technical indicators support this bullish trend; the 1-hour RSI is at 63, indicating near-term momentum, while the 7-day RSI at 56 suggests moderate buying pressure. However, the 30-day price change shows a decline of 19.80%, which highlights that ENA has been underperforming longer-term, possibly reflecting market corrections or profit-taking behavior.

The 14-day price change is more promising at 15.07%, showcasing a recovery trend that may indicate a shift in market sentiment. Notably, the all-time high for ENA is $1.52, reached on April 11, 2024, suggesting significant room for growth if upward momentum continues.

Given the current bullish signals from short-term moving averages and RSI levels, alongside a healthy trading volume, there is a short-term positive outlook for ENA. However, the longer-term downtrend must be monitored closely.

In conclusion, the recommendation for Ethena (ENA) is a Buy, as the current price action and indicators suggest strong short-term potential with possible upward movement towards previous resistance levels. Caution is advised for longer-term positions until further bullish confirmation is established.