Ethena (ENA) is currently priced at $0.11128, experiencing a 24-hour decline of 2.28%. The price has fluctuated between a daily high of $0.115638 and a low of $0.108475, indicating a daily range of 0.007163, which suggests low volatility.

Trading volume stands at 97,848,708 ENA, with a volume-to-market cap ratio of 10.68%, indicating a moderate level of trading activity relative to its market cap. The short-term moving averages show mixed signals, with the 8 SMA and 13 SMA slightly bullish at +1.05% and +0.63%, while the 21 SMA, 55 SMA, and 144 SMA indicate bearish trends at -0.67%, -3.50%, and -6.91%, respectively.

The 1-hour RSI is at 42, suggesting that ENA is nearing oversold territory, which could lead to a potential short-term rebound. Conversely, the 7-day RSI at 48 and the longer-term declines of 17.07%, 35.57%, and 49.38% over 7, 14, and 30 days, respectively, indicate that the asset has been in a sustained downtrend.

With an all-time high of $1.52 reached in April 2024, ENA has significant downside from its current price. The substantial price declines over the past month suggest weak investor confidence and potential resistance at higher levels.

Considering the technical indicators, current price trends, and overall market sentiment, a cautious approach is warranted. Therefore, I recommend a Hold rating for Ethena (ENA) as it is not yet a favorable entry point, and further consolidation or a clearer bullish signal is needed before considering a Buy.