Ethena USDe (USDE) is currently trading at $0.99924, reflecting a marginal increase of 0.00991% over the past 24 hours. The daily trading range has been relatively narrow, with a high of $0.999937 and a low of $0.998605, indicating low volatility in the market.

Trading volume stands at approximately 68 million, which corresponds to a volume-to-market cap ratio of 1.04%. This suggests that liquidity is sufficient, but the lack of significant volume spikes implies limited trading interest at this time.

The short-term moving averages (8, 13, 21, and 55 SMA) hover around the $0.9994 to $0.9993 range, all showing slight declines of up to 0.02%. The longer 144 SMA is slightly higher at $0.9996, suggesting potential support around this level, yet all averages indicate a neutral to bearish short-term trend.

Both the 1-hour and 7-day Relative Strength Index (RSI) are at 49 and 50, respectively, reflecting a neutral market sentiment with no immediate overbought or oversold conditions. However, the 7-day and 14-day price changes show declines of approximately -0.0254% and -0.0265%, respectively, indicating that the asset has been underperforming in the short to mid-term.

Despite the asset's proximity to its all-time high of $1.034, achieved in December 2025, the current price trends suggest a lack of upward momentum. Furthermore, the 30-day price change of 0.0073% indicates slight recovery, but this is overshadowed by the recent declines.

Given the current market conditions, the neutral RSI values, and the lack of significant upward momentum or trading interest, I recommend a Hold rating for Ethena USDe (USDE). This stance allows investors to monitor for potential signs of a breakout or further bearish movements without incurring losses in the current environment.