WETH is currently trading at $2,949.67, reflecting a 24-hour change of -2.00%. The price has experienced a daily range of $120.14, with a high of $3,032.41 and a low of $2,912.27, indicating volatility within the period.

The volume stands at $156,944,671, representing a volume-to-market cap ratio of 2.29%. This relatively low ratio suggests limited trading activity relative to market capitalization, which may affect liquidity and price stability.

Moving averages show a bearish trend; the 8 SMA is at $2,971.94 (-0.75%), while longer SMAs are also trending downwards, with the 144 SMA at $3,160.01 (-6.66%). This indicates that short-term momentum is weakening and reinforces a downward trajectory over longer time frames.

The 1-hour RSI is currently at 29, indicating potential oversold conditions in the short term. However, the 7-day RSI at 39 suggests that WETH may be entering a bearish phase, as it remains below the neutral level of 50.

Over the past week, WETH has decreased by 10.20%, and the 14-day change shows a decline of 5.00%. This sustained downward movement, combined with a price that remains significantly below its all-time high of $4,950.08, signals a lack of bullish momentum.

Given the current technical indicators, the bearish trend is supported by weak RSI readings and declining moving averages. The market sentiment appears negative, and while the oversold condition could present a short-term buying opportunity, the overall trend does not favor a bullish outlook.

Based on this analysis, a Sell rating is warranted. The absence of significant bullish signals and the ongoing downward trend suggest further price declines are likely in the near term.