Ethena (ENA) is currently trading at $0.21518, reflecting a 2.29% increase over the past 24 hours. The price has fluctuated between a high of $0.21704 and a low of $0.209661, indicating a daily range of 0.007379%.

The trading volume of 67,255,242 ENA shows a Vol/Market Cap ratio of 4.06%, suggesting moderate market activity relative to its overall market capitalization. Notably, the hourly moving averages indicate bullish momentum, with the 55 SMA at $0.2098 showing a 2.54% increase and the 144 SMA at $0.2058 reflecting a 4.55% rise, supporting short-term upward price action.

The 1-hour RSI stands at 68, indicating that ENA is approaching overbought territory, while the 7-day RSI is neutral at 51, suggesting potential stability in the near term. However, the 14-day price change shows a decline of 12.95%, and the 30-day price change is down 23.94%, indicating longer-term bearish pressure.

Despite the recent uptick, the persistent downtrend over the past month casts uncertainty on the sustainability of the current rally. The all-time high of $1.52 reached on April 11, 2024, is significantly above the current price, indicating considerable upside potential if a trend reversal occurs.

Given the current technical indicators and the mixed fundamental outlook, a cautious approach is warranted. Therefore, I recommend a Hold rating for ENA, monitoring for clearer bullish signals or potential corrective actions before making further investments.