Coinbase Wrapped BTC (CBBTC) is currently priced at $109,034, reflecting a 3.32% increase over the last 24 hours. The price has fluctuated within a daily range of $4,440, indicating substantial volatility in the market.

Trading volume stands at approximately $291.65 million, with a volume-to-market cap ratio of 5.68%. This relatively high volume suggests active trading and interest, which can contribute to price movements in either direction.

Analyzing the hourly moving averages, the 8 SMA is at $108,299 with a 0.68% rise, while the longer-term averages, such as the 55 SMA at $106,984, show a stronger upward trend of 1.92%. The convergence of these moving averages suggests bullish sentiment, particularly in the short term.

The 1-hour RSI is at 75, indicating that CBBTC is nearing overbought territory, which could signal a potential pullback in price. In contrast, the 7-day RSI at 53 shows neutral momentum, suggesting that there may still be room for upward movement before hitting overbought levels.

Over the past week, the price has increased by 1.64%, while the 14-day and 30-day price changes are at 3.96% and 3.08%, respectively. This consistent upward trend over multiple time frames highlights a strengthening bullish sentiment among traders.

The all-time high for CBBTC is $112,129, achieved in May 2025, indicating that the current price is approximately 2.55% below this key resistance level. If momentum continues, a test of the all-time high could occur, especially if trading volumes remain high and market sentiment stays positive.

Given the current technical indicators, including strong short-term price movements and positive volume trends, a Buy rating is warranted. However, traders should monitor the RSI levels closely, as potential overbought conditions could lead to short-term corrections.