Ethena USDe (USDE) is currently priced at $0.998383, showing a slight decline of -0.02801% over the past 24 hours. The price has fluctuated between a high of $1.001 and a low of $0.99635 during this period, indicating a tight daily range of 0.00465%.

Trading volume stands at 137,180,429, reflecting a Vol/Market Cap ratio of 2.18%, which suggests a moderate level of liquidity. The hourly moving averages indicate a bearish sentiment with the 8 SMA at $0.9983 (+0.01%) and the 13 SMA at $0.9984 (-0.00%), while longer-term averages display consistent values around $0.9984-$0.9985, suggesting stability in the short term.

The 1-hour RSI is currently at 47, which indicates that the market is approaching neutral territory, while the 7-day RSI at 49 further confirms this sentiment. Over the past week, USDE has seen a price change of -0.01097%, and over the last 14 days and 30 days, the declines are more pronounced at -0.06490% and -0.06449%, respectively, indicating a bearish trend.

The all-time high for USDE was recorded at $1.034 on December 9, 2025, which highlights the potential for recovery but also indicates a significant gap to cover. Given the current technical indicators and the overall downward price momentum, traders should proceed with caution.

Taking into account the tight trading range, moderate RSI levels, and the recent price declines, I recommend a Hold rating for USDE at this time. The market shows signs of stabilization, but a clear upward trend has yet to be established, warranting further observation before making a buy decision.