Frax Ether (FRXETH) is currently trading at $2,692.97, reflecting a significant 24-hour decline of 9.96%. The price has oscillated between a high of $3,000.74 and a low of $2,686.86 over the past day, indicating heightened volatility with a daily range of 313.88%.

The trading volume stands at 9,262,280, which corresponds to a volume-to-market cap ratio of 3.46%. The hourly moving averages indicate a bearish trend, with all relevant SMAs (8 SMA at $2,784.96, 13 SMA at $2,799.03, 21 SMA at $2,867.93, 55 SMA at $2,919.64, and 144 SMA at $2,943.27) reflecting declines ranging from 3.30% to 8.50%.

The Relative Strength Index (RSI) readings show an overbought condition in the short term with an hourly RSI of 11, while the 7-day RSI at 44 indicates a slightly neutral position. Over the past week, the price has decreased by 2.87%, with a more substantial drop of 13.42% over the past two weeks, and a notable decline of 29.88% over the last 30 days.

Given the current price action, technical indicators, and the bearish momentum reflected in moving averages and RSI readings, the outlook for FRXETH is unfavorable. As such, the recommendation is to sell, as the asset shows significant downside risk in the short term, and bearish momentum suggests further declines may follow.