Ethena (ENA) is currently trading at $0.203586, reflecting a slight decline of 0.96% over the past 24 hours. The price has fluctuated between a high of $0.209384 and a low of $0.201477 within the same period, indicating a daily range of approximately 0.79%.

The trading volume stands at 111,738,152, which constitutes 7.13% of its market cap, signaling a moderate level of interest in the asset. Technical indicators reveal a bearish trend, with all moving averages (8 SMA, 13 SMA, 21 SMA, 55 SMA, and 144 SMA) showing negative percentage changes, particularly the 144 SMA at -2.52%, suggesting a persistent downward momentum.

The 1-hour RSI is at 31, which indicates that ENA is approaching oversold territory, potentially hinting at a short-term rebound. However, the 7-day RSI is neutral at 50, while the 7-day price change of 3.40% indicates a slight recovery, contrasting with the more significant decline of 5.28% over 14 days and a 17.51% drop over the past 30 days.

Despite the recent downward trends, the all-time high for ENA stands at $1.52, recorded on April 11, 2024, suggesting substantial long-term upside potential. However, the current price is significantly below this peak, raising concerns about short-term investor sentiment and market confidence.

Given the current technical indicators and the bearish moving averages, the short-term outlook appears challenging for ENA. Therefore, I would assign a Hold rating, as there may be potential for a price rebound in the very short term, but broader trends indicate a cautious approach until clearer bullish signals emerge.