Ethena USDe (USDE) is currently priced at $0.998469, reflecting a slight decline of 0.00791% over the last 24 hours. The trading range for the day has been narrow, with a high of $0.999672 and a low of $0.993898, indicating limited volatility in recent trading sessions.

The trading volume stands at 198,602,879, contributing to a volume-to-market cap ratio of 3.02%. This relatively low ratio suggests that while there is active trading, the market cap may not be significantly impacted by current trading activity, indicating a stable demand environment.

Moving averages show mixed signals, with the 8 and 13 SMA trending slightly upward at +0.01% and +0.02%, while the longer-term averages (55 SMA and 144 SMA) exhibit minor declines. The short-term moving averages suggest a potential for slight bullish momentum, but the longer-term indicators reflect hesitance.

The RSI readings illustrate neutral conditions, with the 1-hour RSI at 48 and the 7-day RSI at 50. This indicates that there is no immediate overbought or oversold condition, suggesting a balanced market sentiment but lacking strong directional momentum.

In terms of price changes, the 7-day decline of -0.0431% and 14-day decline of -0.1187% indicate a bearish trend over the short to medium term. Conversely, the 30-day price change of +0.0175% suggests a possible rebound, although it remains fragile given the recent downward movements.

USDE's all-time high is $1.034, which was reached on December 9, 2025, indicating significant room for price appreciation if market conditions improve. Currently, the asset's proximity to $1 suggests psychological support; however, sustained trading below this level may indicate a struggle to reclaim previous highs.

Considering the current technical and fundamental indicators, the market sentiment appears neutral with slight bearish undertones. Therefore, the rating for Ethena USDe (USDE) is Hold, as potential for upward movement exists, but without clear bullish signals, immediate buying is not recommended.