Mantle Staked Ether (METH) is currently trading at $2,649.41, experiencing a significant decline of 9.46% over the past 24 hours. The daily price range has been quite volatile, with a high of $2,939.31 and a low of $2,555.22, indicating a daily range of 384.09%.

Volume stands at 7,376,133, with a volume-to-market cap ratio of 1.05%, suggesting moderate trading activity relative to its market capitalization. The short-term moving averages indicate bearish momentum, particularly the 55 SMA at $2,900.26 and the 144 SMA at $3,083.95, which are both trending downwards.

The 1-hour RSI is at 27, indicating an oversold condition, while the 7-day RSI at 40 suggests weakening momentum. Additionally, the 7-day, 14-day, and 30-day price changes are all negative, highlighting a persistent downward trend.

Given the current technical indicators and the overall bearish sentiment reflected in the price movements and RSI values, METH appears to be in a correction phase. Although it is oversold in the short term, the lack of bullish confirmation signals suggests that caution is warranted.

In conclusion, the recommendation is to Hold METH at this time. While the price may rebound in the short term due to oversold conditions, the prevailing downtrend and bearish moving averages indicate that any potential upside may be limited unless there is a significant shift in market sentiment.