Ethena (ENA) is currently trading at $0.247472, reflecting a 3.75% increase over the past 24 hours. The daily trading range has been relatively narrow, with a high of $0.248207 and a low of $0.234664, indicating consolidation as traders await directional cues.

Volume over the last 24 hours stands at approximately 177.76 million ENA, translating to a volume-to-market cap ratio of 9.68%. This level of volume suggests a healthy trading activity but may indicate a struggle to break key resistance levels, particularly given the all-time high of $1.52 reached in April 2024.

Moving averages reveal a mixed short-term sentiment; the 8 SMA and 13 SMA are trending positively, suggesting bullish momentum, while the 144 SMA indicates a slight bearish trend. The current price is above the shorter-term moving averages, which could indicate short-term strength, but the longer-term moving average signals potential resistance around $0.2505.

The Relative Strength Index (RSI) metrics highlight differing momentum perspectives: the 1-hour RSI at 61 indicates that the asset is nearing overbought territory, while the 7-day RSI at 46 suggests that ENA is closer to neutral. This divergence indicates that while short-term momentum is strong, the longer-term trend remains bearish, as evidenced by significant declines over the past week (-10.78%), two weeks (-26.45%), and month (-46.60%).

In summary, Ethena shows mixed signals with short-term bullishness but significant longer-term downward pressure. Given the current price dynamics and resistance levels indicated by the moving averages, the recommendation is to **Hold** ENA. This strategy allows investors to reassess after a clear breakout above the recent high or further confirmation of bullish momentum.