Frax Ether (FRXETH) is currently trading at $2,990.23, reflecting a 2.55% increase over the last 24 hours. The price has fluctuated between a low of $2,892.42 and a high of $3,015.99 within the same period, indicating a daily range of 123.57%, which suggests significant volatility.

The trading volume stands at approximately 13.65 million, representing 5.54% of the market cap. This volume level is moderate but indicates active trading, which can be a sign of investor interest and potential price movement.

Analyzing the hourly moving averages, the 8 SMA is slightly below the current price at $2,996.96, while longer-term SMAs are showing upward trends, with the 55 SMA at $2,918.84 reflecting a gain of 2.45%. The convergence of moving averages, particularly the positive trajectory of the 21 and 55 SMAs, suggests that upward momentum could be building.

The 1-hour RSI is at 54, indicating that the asset is neither overbought nor oversold, suggesting a balanced market sentiment. Conversely, the 7-day RSI at 50 indicates a neutral stance, while the recent 14-day and 30-day price changes reflect a slight downward trend, suggesting some short-term weakness.

Despite recent price fluctuations, the asset remains significantly below its all-time high of $4,906.89 reached on August 24, 2025, leaving room for potential upside. However, the longer-term negative price trends over the last 14 and 30 days raise concerns about sustained bullish momentum.

Given the current price action, moderate RSI readings, and the overall market environment, a cautious approach is warranted. Thus, the recommendation is to Hold FRXETH, as potential for upward movement exists, but the overall trend requires further confirmation before committing to a Buy.