Coinbase Wrapped BTC (CBBTC) is currently priced at $84,608, reflecting a slight decline of 0.40% over the past 24 hours. The daily trading range shows a high of $85,098 and a low of $84,270, indicating relatively stable price movement within this tight band, suggesting limited volatility.

Trading volume stands at approximately $82.89 million, with a volume-to-market cap ratio of 2.51%, which indicates moderate market participation. The 1-hour RSI at 41 suggests that the asset is approaching oversold territory, while the 7-day RSI at 49 indicates a neutral momentum, providing mixed signals for short-term traders.

Moving averages show a slight upward trend with the 8 SMA at $84,511.94 (+0.11%) and the 13 SMA at $84,572.11 (+0.04%), while the 21 SMA indicates a minor downtrend at $84,703.91 (-0.11%). This divergence in short-term SMAs, particularly alongside the 1-hour RSI, suggests potential for a short-term bounce, but the overall sentiment remains cautious.

From a fundamental perspective, CBBTC has retraced approximately 0.87% over the last 30 days, which may indicate a bearish trend in the longer-term outlook. Additionally, the all-time high of $108,953, achieved on January 20, 2025, highlights significant price potential; however, the current price is still substantially below this level, indicating a need for bullish momentum to regain previous highs.

Given the current technical indicators, including RSI levels and mixed moving average trends, the market sentiment appears to be neutral to slightly bearish in the short term. Therefore, I recommend a Hold rating on CBBTC, as investors should wait for clearer signs of reversal or sustained upward momentum before making new positions.