Ethena (ENA) is currently priced at $0.118026, reflecting a significant decline of 6.01% over the last 24 hours. The daily trading range has been tight, with a high of $0.125634 and a low of $0.118073, indicating reduced volatility in the market.

Trading volume stands at approximately 90.89 million, contributing to a volume/market cap ratio of 9.35%, suggesting moderate liquidity. The moving averages show a bearish trend, with the 8 SMA at $0.1207 and the 55 SMA at $0.1240, all indicating negative price momentum.

The 1-hour RSI is at 30, suggesting that ENA is oversold in the short term, while the 7-day RSI at 44 shows a lack of bullish momentum. The price has dropped significantly over longer time frames, with a 30-day price change of -48.36%, reflecting overall bearish sentiment.

Given the recent performance, including a decline from its all-time high of $1.52, investor confidence appears to be waning. The combination of negative price action across multiple time frames and bearish moving averages indicates a challenging environment for ENA.

Considering these factors, the recommendation is to Hold. The oversold condition may present a short-term buying opportunity, but the overall trend suggests caution until clear bullish signals emerge.