Ethena (ENA) is currently trading at $0.283218, reflecting a 4.99% decline over the last 24 hours. The daily trading range has been relatively tight, with a high of $0.300935 and a low of $0.282696, indicating market consolidation after a recent downturn.

Volume stands at 247,330,456, representing 11.77% of the market cap, suggesting a healthy trading interest despite the price drop. The hourly moving averages indicate bearish momentum, with the 8 SMA down 1.44%, the 13 SMA down 2.03%, and the 21 SMA down 2.89%, while the 55 SMA is showing slight bullishness at +1.64%.

The 1-hour RSI is at 34, indicating that ENA is nearing oversold conditions, which may present a potential rebound opportunity in the short term. Meanwhile, the 7-day RSI at 50 reflects neutral momentum, and the 14-day price change shows a positive 10.57%, suggesting that ENA had been gaining strength prior to the recent decline.

The 30-day price change is negative at -9.01%, indicating a longer-term bearish trend, which could weigh on investor sentiment. Notably, the all-time high of $1.52 on April 11, 2024, highlights significant room for recovery if bullish momentum can be established.

Considering the current technical indicators and the recent price action, ENA is currently positioned for a potential short-term bounce due to oversold conditions. However, the longer-term trend remains bearish, and without strong positive catalysts, further downside risk exists.

Overall, the recommendation for Ethena (ENA) is to Hold. Investors should monitor for signs of a reversal or improved trading volume before making a decision to buy.