Ethena (ENA) is currently priced at $0.244403, reflecting a significant 24-hour decline of 6.31%. The daily trading range has been relatively tight, with a high of $0.260906 and a low of $0.235859, indicating limited volatility within the current session.

Trading volume is notably high at 285,804,125, with a volume-to-market cap ratio of 15.75%, suggesting active participation despite the price drop. The short-term moving averages indicate a slight bullish trend; however, the 21 SMA is declining, and the longer-term averages are indicating bearish momentum, especially the 55 SMA, which is down 8.93%.

The 1-hour RSI stands at 51, suggesting neutral market sentiment, while the 7-day RSI is lower at 45, indicating potential bearish pressure in the near term. The price changes over the past 7, 14, and 30 days show a consistent downtrend of -6.27%, -5.04%, and -36.61%, respectively, reinforcing the bearish outlook.

Ethena's all-time high remains substantially distant at $1.52, achieved in April 2024, which highlights the current price weakness compared to historical peaks. The overall technical indicators, alongside the recent price action, suggest that ENA is experiencing selling pressure, particularly in the short to medium term.

Given the current price action, RSI readings, and the bearish indicators from moving averages, a cautious approach is warranted. Therefore, the recommendation for Ethena (ENA) is to Hold, as the market shows potential for recovery but is currently under pressure, warranting careful observation before making any buying decisions.