Frax Ether (FRXETH) is currently trading at $2,882.13, reflecting a 1.55% decline over the past 24 hours. The daily trading range has shown significant volatility with a high of $2,944.44 and a low of $2,879.49, indicating a daily range of approximately 64.95%.

The trading volume stands at 220,741 with a market cap volume ratio of 0.08%, suggesting relatively low trading activity compared to its market capitalization. Short-term moving averages, including the 8 SMA at $2,923.30 and 21 SMA at $2,920.33, all show a downward trend, reinforcing bearish sentiment in the near term.

The 1-hour RSI is currently at 42, indicating a neutral position leaning towards bearish territory. Meanwhile, the 7-day RSI is slightly higher at 47, suggesting the asset is nearing oversold conditions but still lacks a strong upward momentum.

Over the last 7 days, FRXETH has registered a modest price increase of 2.64%, yet it has experienced a significant decline of nearly 10% over the last 14 days. This indicates that while there may be short-term fluctuations, the longer-term trend remains negative.

Given the current technical indicators, including the downward movement in the moving averages and the RSI values suggesting a lack of bullish momentum, the immediate outlook for FRXETH is not favorable. Therefore, the recommendation is to Hold, as the market may need more time to stabilize before any potential upward movement can be confirmed.