WETH is currently trading at $2,894.97, reflecting a slight decline of 0.64% over the past 24 hours. The daily trading range of $113.86 indicates volatility, with a high of $2,976.93 and a low of $2,863.07, suggesting a potential for both upward and downward momentum in the near term.

Volume stands at 168,072,387, with a volume-to-market cap ratio of 2.16%, indicating moderate liquidity. The hourly moving averages present a bearish trend, with the 8 SMA at $2,925.81 showing a decline of 1.05%, while longer averages like the 144 SMA at $2,836.92 indicate a potential reversal with a rise of 2.05%.

The 1-hour RSI is at 31, signaling that WETH is approaching oversold territory, which may attract buyers looking for a reversal. In contrast, the 7-day RSI of 51 indicates that the asset is currently in neutral territory, with the price showing a 7-day change of -6.26% and a more pronounced decline of 18.06% over the past 14 days.

The longer-term outlook is concerning, as WETH has experienced a 30-day price change of -30.34%, suggesting bearish sentiment over the last month. Additionally, the all-time high of $4,950.08 remains significantly above the current price, highlighting the potential for recovery but also the challenges of reaching previous levels.

Given the current technical indicators, including a bearish moving average setup and RSI readings suggesting oversold conditions, a cautious approach is warranted. Therefore, the rating for WETH is Hold, as the current price may attract buyers but a sustained recovery will depend on overcoming key resistance levels and improving market sentiment.