Ethena (ENA) is currently trading at $0.121344, reflecting a 24-hour decline of 4.187%. The daily trading range has been between a low of $0.104081 and a high of $0.128219, indicating significant volatility within the past day.

The trading volume stands at approximately 388.3 million ENA, contributing to a volume-to-market cap ratio of 38.93%. This elevated volume suggests active trading interest, but the recent price decrease may indicate profit-taking or bearish sentiment among traders.

Technical indicators show mixed signals; the 1-hour RSI is at 62, suggesting a short-term overbought condition, while the 7-day RSI at 45 indicates a neutral to slightly bearish momentum. Additionally, the moving averages reveal short-term bullish trends with the 8 SMA and 13 SMA showing positive percentages, while longer-term averages such as the 55 SMA and 144 SMA are declining, pointing to potential resistance.

From a fundamental perspective, ENA has seen substantial price declines over various time frames: a 21.36% drop over the past week, a 31.38% decline over the past 14 days, and a staggering 49.82% decrease over the last month. Given that the all-time high was $1.52 in April 2024, the current price shows a significant retracement, suggesting potential for recovery but also risk.

In conclusion, while short-term trading indicators show some bullish momentum, the overall trend remains bearish with declining longer-term moving averages and significant price drops over recent weeks. Therefore, the recommendation for Ethena (ENA) is to Hold, as traders should monitor for further confirmation of trend reversal before considering a Buy, especially in light of the strong resistance indicated by the 55 and 144 SMAs.