Ethena (ENA) is currently trading at $0.275844, reflecting a 24-hour decline of 3.83%. The price has experienced a daily high of $0.290254 and a low of $0.275276, indicating a narrow trading range of 0.014978%.

Volume stands at 192,566,824, contributing to a Vol/Market Cap ratio of 9.08%. The hourly moving averages are all trending downwards, with the 8 SMA at $0.2818 (-2.12%) and the 55 SMA at $0.2856 (-3.42%), suggesting a bearish short-term sentiment.

The 1-hour RSI is at 37, indicating that ENA is nearing oversold territory, while the 7-day RSI at 49 suggests a neutral market condition. However, a recent 7-day price change of -5.73% coupled with a 30-day decline of 12.45% reflects ongoing downward pressure.

In contrast, the 14-day price change shows a more positive trend, with an increase of 20.95%, hinting at potential recovery in the medium term. The all-time high of $1.52 reached in April 2024 remains significantly above the current price, suggesting substantial room for growth if market conditions improve.

Given the current technical indicators and recent price trends, a cautious approach is warranted. The prevailing bearish signals in the short term, combined with a neutral RSI, indicate that a Hold rating is appropriate for now, as waiting for clearer bullish signals may present a better buying opportunity.