Ethena (ENA) is currently trading at $0.101047, reflecting a slight decline of 0.48% over the past 24 hours. The price has oscillated between a 24-hour high of $0.102493 and a low of $0.095939, indicating a daily range of approximately 6.55%, suggesting moderate volatility.

Trading volume stands at 97,563,168, corresponding to a volume-to-market cap ratio of 11.74%. This relatively high volume indicates active trading and interest, although the overall market sentiment appears bearish with a 7-day RSI of 39, indicating potential oversold conditions.

The moving averages present a mixed picture: while the 8 SMA and 13 SMA show positive momentum with increases of 1.72% and 2.39% respectively, the 55 SMA and 144 SMA are in decline, showing decreases of 3.14% and 8.68%. The inconsistency in moving averages suggests a lack of strong directional momentum, which is further corroborated by an hourly RSI of 50, indicating neutrality.

Fundamentally, ENA has faced significant price declines over longer periods, with a 30-day price change of -42.07% and a 14-day change of -13.06%. Such declines could be indicative of waning market interest or negative sentiment, particularly as it trades significantly below its all-time high of $1.52 established in April 2024.

Considering the current technical indicators, the mixed signals from moving averages, and the bearish momentum reflected in the RSI readings, the market outlook for Ethena is cautious. Therefore, the recommendation is to Hold ENA, as the asset may stabilize or recover marginally in the short term, but a clearer bullish trend has yet to establish itself before considering a Buy.