Ethena (ENA) is currently priced at $0.118615, reflecting a significant decline of 13.46% over the past 24 hours. The daily price range has been relatively tight, with a high of $0.137692 and a low of $0.118412, indicating bearish pressure and a lack of upward momentum.

The trading volume stands at approximately 236.76 million ENA, with a volume-to-market cap ratio of 24.27%, suggesting that liquidity is decent but not enough to support a reversal in price direction. The short-term moving averages are all showing a downtrend, with the 8 SMA at $0.1261 reflecting a 5.94% decline, and longer-term averages indicating even steeper drops, highlighting a consistent bearish trend.

The RSI metrics illustrate significant selling pressure, with the 1-hour RSI at an extremely low 14, signaling potential oversold conditions. The 7-day RSI of 40 also indicates a lack of bullish momentum, while the 7-day price change of -23.44%, the 14-day change of -31.81%, and the 30-day change of -51.72% all confirm a persistent downward trajectory in ENA’s price.

The all-time high for ENA was $1.52, reached in April 2024, which positions the current price as significantly undervalued compared to historical performance. However, the drastic decline from that high raises concerns about market sentiment and long-term viability.

Given the current technical indicators and bearish market sentiment, the recommendation is to Sell ENA. The confluence of declining moving averages, low RSI levels, and a stark downtrend over various time frames suggests that further price declines are likely before any potential recovery.