Coinbase Wrapped BTC (CBBTC) is currently priced at $88,216, reflecting a significant drop of 4.75% over the past 24 hours. The daily trading range has been volatile, with a high of $92,798 and a low of $88,195, indicating strong market fluctuations.

Trading volume stands at approximately $429 million, representing 6.31% of the market cap, which suggests a moderate level of trading activity. However, the 1-hour RSI at 10 indicates extreme oversold conditions, while the 7-day RSI of 34 further confirms bearish momentum.

Short-term moving averages are all trending downwards, with the 8 SMA at $90,619.47 showing a decline of 2.65%, and the longer 144 SMA at $94,599.40 reflecting a 6.75% decrease. This downward trend across various timeframes indicates sustained selling pressure and a lack of bullish reversal signals.

From a fundamental perspective, CBBTC has seen a 7-day price change of -7.79% and a 14-day decline of -5.21%, suggesting a continued downward trajectory. The cryptocurrency is also trading significantly below its all-time high of $125,954, indicating a loss of investor confidence.

Given the current technical indicators and market sentiment, a Sell rating is warranted for CBBTC. The combination of extreme oversold conditions, declining moving averages, and sustained negative price momentum suggests that further declines are likely before any potential recovery occurs.