Ethena USDe (USDE) is currently trading at $0.998181, reflecting a marginal decrease of 0.01457% over the past 24 hours. The daily trading range has been tight, with a high of $1 and a low of $0.996822, indicating limited volatility during this period.

The volume of $93,458,672 suggests a healthy level of trading activity, as indicated by a volume-to-market cap ratio of 1.48%. The hourly moving averages are clustered closely, with the 8 SMA at $0.9986 and the 144 SMA at $0.9988, all showing a slight downward trend between -0.04% to -0.06%.

The 1-hour RSI is at 41, signaling a slightly bearish momentum, while the 7-day RSI is neutral at 50. However, the 7-day, 14-day, and 30-day price changes show declines of -0.0723%, -0.1305%, and -0.0428% respectively, indicating a short-term downtrend.

Despite the current price being near its all-time high of $1.034 from December 2025, recent momentum indicates a lack of bullish strength. Therefore, while trading volume remains robust, the technical indicators suggest a cautious sentiment among traders.

Given the slight bearish momentum in the short-term and the recent downtrends in price changes, the recommendation for Ethena USDe is to Hold. This stance allows for potential recovery while monitoring market conditions closely for any signs of upward movement.