WETH is currently priced at $3,438.65, reflecting a significant 4.72% decrease over the past 24 hours. The price has fluctuated between a high of $3,609.05 and a low of $3,405.67, indicating a daily range of $203.38, which is substantial in this market context.

Volume stands at approximately 203.32 million, accounting for 2.52% of the market cap, suggesting moderate trading activity. The hourly moving averages indicate a bearish trend, with the 8 SMA at $3,447.58 and consistently lower averages for longer periods, reflecting a loss of momentum.

The 1-hour RSI is at an extreme low of 24, signaling potential oversold conditions, while the 7-day RSI is neutral at 50, indicating a lack of strong directional movement over the week. However, the 14-day and 30-day price changes are negative at -13.74% and -17.55%, respectively, demonstrating a bearish trend over the medium term.

The all-time high for WETH stands at $4,950.08, achieved on August 24, 2025, highlighting substantial room for growth if the market conditions improve. Current price levels are approximately 30% lower than this peak, suggesting potential upside but also indicating significant resistance above current levels.

Given the bearish indicators in the short to medium term, combined with a potential oversold condition indicated by the low RSI, a cautious approach is warranted. The current price action and volume suggest that while there may be opportunities for a short-term rebound, overall sentiment remains weak.

Rating: Hold. This recommendation reflects the need to observe for signs of a reversal before entering new positions, while also considering the potential for a bounce back given the oversold RSI in the short term.