Ethena USDe (USDE) is currently priced at $0.99751, reflecting a slight decline of -0.1473% over the last 24 hours. The price has remained relatively stable, with a daily high of $1 and a low of $0.997056, indicating a tight daily trading range of approximately 0.00294%.

The trading volume over the past 24 hours stands at 182,700,709, equating to a volume-to-market cap ratio of 2.36%. This suggests moderate liquidity, though the low volatility reflected in the hourly moving averages (SMA) indicates a lack of momentum; all SMAs are clustered around $0.9985, exhibiting minor downward adjustments.

In terms of momentum indicators, the 1-hour RSI is at 36, suggesting that the asset is approaching oversold conditions. Conversely, the 7-day RSI at 51 indicates a neutral trend, while recent price changes over the last week, two weeks, and month all show negative movement of -0.215%, -0.188%, and -0.193%, respectively, which may signal bearish sentiment.

Despite the proximity to its all-time high of $1.032 achieved on December 20, 2023, recent performance suggests that USDE is struggling to maintain upward momentum. The combination of declining prices and low RSI readings hints at potential weakness in buyer interest, which could lead to further price retracement if not supported by a significant influx of demand.

Considering the technical analysis and current market conditions, the recommendation for Ethena USDe (USDE) is to Hold. While the asset has shown resilience in maintaining a price near $1, the lack of momentum and recent declines suggest caution is warranted before committing to additional positions or expecting substantial upward movement in the short term.