Ethena (ENA) is currently trading at $0.100283, reflecting a significant decline of approximately 7.96% over the last 24 hours. The asset's daily trading range has been narrow, with a low of $0.100239 and a high of $0.108998, indicating a lack of volatility amidst bearish sentiment.

The volume of 81,548,002 ENA suggests heightened trading activity, though the volume-to-market cap ratio of 9.86% indicates that the market may be lacking depth. The hourly moving averages illustrate a downward trend, with the 8 SMA at $0.1021 showing a 1.81% decline, while the 55 SMA at $0.1081 reflects a sharper drop of 7.19%.

Momentum indicators are bearish, with the 1-hour RSI plummeting to 14, signaling that ENA is severely oversold in the short term. The 7-day RSI at 37 confirms this bearish trend, and both the 7-day and 14-day price changes indicate substantial downward pressure of 16.28% and 17.45%, respectively.

In a longer-term perspective, the price has decreased by approximately 42.85% over the past 30 days, reflecting a significant loss in value. The all-time high of $1.52, reached in April 2024, seems far removed, reinforcing the bearish outlook as current prices are at just over 6.5% of that peak.

Given the technical indicators suggesting continued weakness and the fundamental backdrop of negative price momentum, the current market conditions do not favor a bullish outlook for ENA. Therefore, the rating is a Sell, as further declines are likely until a reversal pattern is established and momentum indicators show improvement.