Frax Ether (FRXETH) is currently trading at $2,975.21, reflecting a 24-hour decline of 1.97%. The price has fluctuated between a high of $3,064.25 and a low of $2,934.79 in the last 24 hours, indicating a daily range of approximately 129.46%, which suggests significant volatility.

The trading volume over the past day stands at 720,758, representing a volume-to-market cap ratio of 0.20%. This relatively low volume in comparison to market capitalization indicates limited trading activity and could imply potential liquidity issues if larger movements were to occur.

Technical indicators show that short-term moving averages are mixed, with the 8 SMA slightly above the current price, while the 21 SMA and 55 SMA are trending lower, suggesting potential downward pressure. The 144 SMA, however, has a positive trend of 1.75%, which may indicate a longer-term support level forming around $2,924.01.

The 1-hour RSI is at 36, suggesting that FRXETH is nearing oversold territory, which could lead to a price rebound if buying interest returns. In contrast, the 7-day RSI at 58 indicates that the asset has room for upward momentum, as it is not yet in the overbought range.

Over the past week, FRXETH has appreciated by approximately 15.64%, and it has shown a stronger performance over the past 14 and 30 days with gains of 21.36% and 18.30%, respectively. This positive trend, combined with the recent price corrections, might attract investors looking for entry points.

Considering the recent price action, technical signals, and RSI readings, the outlook for Frax Ether suggests a potential recovery from its current price level. Given these factors, the rating for FRXETH is a Buy, as the combination of short-term oversold conditions and a generally positive medium-term trend could lead to upward price movement.