Ethena (ENA) is currently trading at $0.180133, reflecting a minor decrease of 0.99% over the past 24 hours. The price has oscillated between a high of $0.184644 and a low of $0.17177 during this period, indicating limited volatility with a daily range of just 0.012874%.

The trading volume stands at 185,784,178, representing a volume-to-market cap ratio of 12.96%, which suggests a moderate level of trading activity relative to its market capitalization. The hourly moving averages indicate a bearish sentiment, with the 55 SMA at $0.1845 showing a decline of 2.35%, while the longer-term 144 SMA at $0.2031 indicates a significant drop of 11.31% from current levels.

Momentum indicators reveal mixed signals; the 1-hour RSI at 50 suggests neutrality, while the 7-day RSI at 39 indicates that ENA is approaching oversold territory. The price changes over various timeframes are concerning, with a 7-day decline of approximately 23.20%, a 14-day decrease of 24.48%, and a 30-day drop of 12.15%, highlighting a sustained downtrend.

Given that the current price is substantially below the all-time high of $1.52 achieved in April 2024, the potential for a rebound exists but is contingent on a reversal in market sentiment. The downward pressure indicated by the moving averages and RSI metrics suggests a bearish trend that may take time to reverse.

In conclusion, the current market indicators and price trends suggest that ENA is likely to face further downward pressure in the short term. Therefore, the recommendation is to Hold until there are clearer signs of a trend reversal or improvements in trading momentum.