WETH is currently priced at $3,324.61, reflecting a robust 24-hour change of 6.26%. The asset has experienced significant volatility, with a daily range from $3,094.24 to $3,391.39, indicating strong investor interest and trading activity.

The volume over the last 24 hours stands at approximately $194.57 million, resulting in a Vol/Market Cap ratio of 2.17%, suggesting healthy market engagement. Hourly moving averages indicate a bullish trend, with the 8 SMA at $3,197.43 showing a 3.98% increase, while longer-term SMAs reflect consistent upward momentum, particularly the 55 SMA which is up 6.62%.

The 1-hour Relative Strength Index (RSI) is at 77, signaling that WETH may be overbought in the short term, while the 7-day RSI at 53 indicates a more balanced market condition. The 7-day price change of 10.21% and the 14-day change of 13.85% confirm a recent bullish trend, despite a slight decline of 6.08% over the last 30 days.

Considering the current technical indicators and the overall market sentiment, WETH is showing strong bullish momentum in the short term but may face corrections due to the high RSI. Given the significant price movement and the proximity to recent highs, I recommend a Hold rating to capitalize on potential upward momentum while being cautious of a short-term pullback.