Mantle Staked Ether (METH) is currently trading at $3,076.91, reflecting a significant 5.93% decline over the past 24 hours. The asset has seen a daily range of $259.93, indicating high volatility with a 24-hour high of $3,297.21 and a low of $3,037.28.

Volume stands at 2,031,958, with a volume-to-market cap ratio of 0.29%, suggesting relatively low trading activity compared to market capitalization. The price action over the last week has been negative, with a 7-day RSI of 49 indicating neutral momentum, while the hourly RSI is significantly lower at 19, suggesting potential oversold conditions.

Moving averages indicate a bearish trend, with all relevant SMAs showing negative percentages: the 8 SMA at $3,109.85 (-1.06%), 13 SMA at $3,172.67 (-3.02%), and others following suit. The 14-day price change is a stark -10.61%, reflecting an ongoing downtrend, while the 30-day price change is even more pronounced at -25.98%.

METH's all-time high of $5,312.55, reached on August 24, 2025, remains a significant point of reference, but the current price is substantially below this level. The prevailing market conditions, characterized by declining prices and negative momentum indicators, suggest that further downside could be possible in the short term.

Considering the technical analysis, with the hourly RSI indicating oversold conditions but the overall trend remaining bearish, I recommend a Hold rating. This strategy allows for potential recovery if prices stabilize, while avoiding the risk of further declines in the current market environment.