Ethena (ENA) is currently trading at $0.124062, experiencing a slight decline of 1.25% over the last 24 hours. The daily range has been narrow, with a high of $0.127808 and a low of $0.1217, indicating limited volatility in the recent trading session.

The volume of 159,301,782 ENA reflects a market cap volume ratio of 15.60%, suggesting a moderate level of trading activity relative to its market capitalization. The hourly moving averages show a mix of trends, with the 8 SMA at $0.1256 and the 13 SMA at $0.1260 both indicating short-term downward pressure, while the 55 SMA shows a slight positive trend at $0.1228.

The 1-hour RSI is currently at 42, which is near the oversold territory, suggesting potential for a short-term reversal. However, the 7-day RSI of 46 indicates that the asset is still in a neutral zone, lacking momentum for a strong price movement in either direction.

Over the past week, ENA has dropped approximately 10.74%, while the 14-day and 30-day changes show even more significant declines of 28.40% and 46.71%, respectively. This sustained downtrend raises concerns about investor sentiment and the asset's resilience in the current market conditions.

Given the current price proximity to critical moving averages and the overall bearish momentum reflected in the RSI and price changes, the outlook for ENA appears challenging. However, the potential for a short-term bounce exists if the price can stabilize above the 55 SMA at $0.1228.

In conclusion, the recommendation for Ethena (ENA) is to Hold. The asset shows signs of overselling but lacks strong buying momentum, making it prudent to await clearer signals of recovery before considering a Buy.