Ethereum (ETH) is currently priced at $2,284.71, reflecting a significant decline of 4.51% over the past 24 hours. The price has fluctuated within a daily range of $160.83, with a high of $2,445.05 and a low of $2,284.22, indicating increased volatility in the short term.

Volume for the last 24 hours stands at $13.92 billion, which translates to a volume-to-market cap ratio of 5.05%. This relatively high trading volume suggests robust market activity, yet the overall bearish sentiment is underscored by the negative price change over the past week (-9.58%) and the 14-day period (-10.06%).

Technical indicators highlight a concerning trend, with the 1-hour RSI at a critical level of 14, indicating oversold conditions and potential for a short-term rebound. However, the 7-day RSI at 43 suggests a lack of momentum, further compounded by the downward pressure indicated by the moving averages, where the short-term SMAs are all below the current price and declining.

Historically, Ethereum reached its all-time high of $4,878.26 on November 10, 2021, which adds a layer of perspective to the current price action. Given the significant distance from this peak and the ongoing negative price changes across multiple time frames, investor sentiment remains cautious.

Considering the current bearish trends and technical indicators, the outlook for Ethereum is negative in the short to medium term. Therefore, I recommend a Sell rating, as the market conditions do not favor an immediate recovery, and potential investors should seek lower entry points or wait for signs of stabilization before re-entering the market.