Frax Ether (FRXETH) is currently priced at $2869.96, reflecting a 24-hour decline of 2.87%. The price movement has been constrained within a daily range of $84.39, with the highest price reaching $2954.85 and the lowest at $2870.46, indicating a lack of volatility.

The trading volume stands at 509,467, with a volume-to-market cap ratio of 0.21%, suggesting relatively low trading activity compared to its market capitalization. The hourly moving averages indicate bearish momentum, with the 8 SMA at $2,929.05 and the 144 SMA significantly lower at $2,994.42, hinting at ongoing downward pressure on the price.

The 1-hour RSI is currently at 20, indicating extreme oversold conditions, while the 7-day RSI sits at 40, which is approaching neutral territory but still reflects weakness. The price has decreased by approximately 13.92% over the past week and by 7.89% over the last 14 days, showing a consistent bearish trend.

Frax Ether's all-time high of $4906.89, reached on August 24, 2025, remains significantly distant, implying that the current price is approximately 41% below that peak. The broader trend indicates a potential continuation of the bearish phase unless a reversal pattern emerges in the near term.

Considering the current technical indicators, the significant distance from the all-time high, and the prevailing negative momentum, I recommend a Sell rating for FRXETH. The market conditions do not favor a bullish outlook, and further downside could be anticipated unless clear signs of recovery manifest.