Ethena (ENA) is currently trading at $0.110011, reflecting a notable 9.60% increase over the past 24 hours. The daily range indicates solid volatility, with a high of $0.114245 and a low of $0.099485, suggesting active trading interest.

The trading volume stands at 118,271,260, which corresponds to 13.08% of the market cap, indicating a healthy level of liquidity. The short-term hourly moving averages show mixed signals, with the 8 SMA at $0.1105 slightly bearish, while longer-term averages like the 21 SMA at $0.1052 are bullish, suggesting upward momentum.

The 1-hour Relative Strength Index (RSI) is at 74, indicating overbought conditions, which typically precedes a pullback. In contrast, the 7-day RSI sits at 50, suggesting neutral sentiment over the longer term, while the 30-day price change shows a significant decline of approximately 34.75%, reflecting ongoing bearish trends in the longer timeframe.

Fundamentally, the asset has faced selling pressure over the past two weeks, with both the 7-day and 14-day price changes showing declines. However, the recent surge in price over the last 24 hours may indicate a potential short-term reversal, driven by increased market interest.

Given the current price action, elevated RSI levels, and the mixed signals from moving averages, a cautious approach is warranted. Therefore, the recommendation is to Hold ENA as it may be poised for further short-term volatility while the longer-term outlook remains bearish. A clear buy signal would depend on sustained momentum beyond the current price levels and a stabilization of the RSI in more favorable territory.