Coinbase Wrapped BTC (CBBTC) is currently priced at $89,077, reflecting a 24-hour change of -1.90%. The daily trading range of $3,260 indicates volatility, with the price oscillating between a high of $91,330 and a low of $88,070 within the same period.

Volume stands at approximately $374.98 million, equating to a volume-to-market cap ratio of 5.45%. This level of trading activity suggests moderate market interest, although the recent negative price momentum may indicate a potential decrease in buying pressure.

Analyzing the hourly moving averages reveals a bearish trend, with the 8 SMA at $89,056.68 showing marginal positive movement, while longer-term SMAs (13, 21, 55, and 144) indicate a consistent downward trajectory. The 55 SMA at $91,558.30 is notably down 2.71%, reinforcing the bearish sentiment over the short to medium term.

The 1-hour RSI is at 40, indicating a slight oversold condition, while the 7-day RSI is at 36, suggesting further bearish momentum and potential continuation of downward pressure. Price changes over the last 7 days (-6.40%) and 14 days (-3.99%) further confirm a negative trend, although the 30-day change of approximately 0.04% signals some stabilization.

CBBTC's all-time high of $125,954 reached in October 2025 serves as a significant resistance level, well above current prices. Given the substantial distance from this peak, the current price action suggests a lack of upward momentum and potential further downside.

In conclusion, the combination of negative price action, bearish moving averages, and low RSI readings points towards continued selling pressure in the near term. Therefore, I recommend a Sell rating on CBBTC, as the data indicates a high likelihood of further declines in the short term.