Ethena (ENA) is currently trading at $0.120686, reflecting a slight decline of -0.23136% over the past 24 hours. The daily trading range has been relatively tight, with a high of $0.123838 and a low of $0.119152, indicating limited volatility in the short term.

Volume stands at approximately 64 million ENA, translating to a volume-to-market cap ratio of 6.46%, which suggests a moderate level of trading activity relative to its market cap. The hourly moving averages show a bearish trend, with the 8 SMA at $0.1215, down 0.65%, and the 55 SMA at $0.1223, down 1.30%, indicating short-term price pressure.

The 1-hour RSI is at 33, suggesting that ENA is approaching oversold territory, which could indicate a potential price rebound. However, the 7-day RSI of 55 reflects a more neutral position, while the 14-day RSI indicates a bearish trend, particularly given the recent price change of -13.44% over the past two weeks.

In the longer term, ENA has experienced a significant decline of -43.97% over the past 30 days, which raises concerns regarding its near-term price stability. Furthermore, the all-time high of $1.52 reached in April 2024 highlights a substantial downside from the current price level, emphasizing the need for a careful assessment of potential recovery.

Considering the current bearish indicators, particularly the declining moving averages and the recent price changes, the sentiment remains cautious. Therefore, the recommendation for Ethena (ENA) is to Hold, as the potential for short-term recovery exists but may be hampered by broader market trends and technical resistance levels.