Ethena (ENA) is currently priced at $0.103726, reflecting a significant 5.63% decrease over the past 24 hours. The daily price range has been relatively narrow, fluctuating only 0.008463%, with the recent high at $0.112189 and the low matching the current price.

Trading volume stands at approximately 74.68 million ENA, indicating a healthy level of market activity, though the volume-to-market cap ratio at 8.74% suggests that liquidity may be somewhat constrained. The hourly moving averages show a consistent downward trend, with the 8 SMA at $0.1059, indicating a -2.02% change, which confirms bearish momentum in the short term.

The 1-hour RSI is at an extremely low 17, signaling potential oversold conditions, while the 7-day RSI of 41 suggests a lack of upward momentum but not yet indicating severe oversold territory. Over the past week, ENA has dropped 20.20%, and its performance over the last 30 days shows a steep decline of 42.06%, emphasizing a prolonged bearish sentiment.

Despite the recent lows, the all-time high for ENA was $1.52, achieved in April 2024, suggesting substantial room for recovery should market conditions improve. However, technical indicators and ongoing price trends indicate that short-term trading remains bearish, with resistance levels needing to be established above the current price.

Given the current price action, weak RSI indicators, and persistent downward pressure from moving averages, the recommendation is to Hold ENA at this time. Investors should monitor for signs of stabilization or a reversal pattern, as selling at this point could lock in losses without a clear signal for recovery.