Ethena (ENA) is currently trading at $0.14045, reflecting a significant 24-hour decline of 9.28%. The price has been volatile, with a daily high of $0.156439 and a low of $0.138054, indicating a narrow trading range of 0.018385%.

The trading volume stands at approximately 178.93 million ENA, representing 16.01% of its market cap. However, the trend indicators signal bearish momentum, with hourly moving averages showing declines between 6.16% and 14.42%, particularly the 55 SMA at $0.1560.

The 1-hour RSI is extremely low at 10, suggesting that ENA is oversold in the short term. In contrast, the 7-day RSI at 41 indicates a neutral state but is trending downward, reflecting a loss of momentum with a 7-day price change of -19.38%.

Over the longer term, the 14-day and 30-day price changes are also negative at -36.96% and -31.74%, respectively, highlighting a consistent downward trend. The all-time high for ENA was $1.52 on April 11, 2024, indicating substantial depreciation from current levels.

Given the current oversold conditions and potential for a technical rebound, a cautious approach is warranted. The substantial price decline, coupled with low RSI levels, suggests a potential for short-term recovery; however, the overall trend remains bearish.

Rating: Hold. The analysis indicates that while a rebound could occur in the short term, the overarching downward trend and lack of strong bullish indicators suggest waiting for clearer signals before considering a buy.