WETH is currently trading at $2,719.91, reflecting a 24-hour decline of 4.03%. The price has fluctuated within a daily range of $141.21, with a high of $2,846.98 and a low of $2,705.77, indicating significant volatility in the short term.

Volume stands at $399,171,356, representing a volume-to-market cap ratio of 6.58%, suggesting moderate liquidity. The hourly moving averages show a bearish trend, with the 8 SMA at $2,736.73 down 0.61% and the 55 SMA at $2,901.83 down 6.27%, indicating short-term downward momentum.

The 1-hour RSI is currently at 32, which indicates oversold conditions and potential for a rebound. However, the 7-day RSI at 44 suggests weakening momentum, while both the 14-day and 30-day price changes of -16.63% and -8.84% respectively highlight ongoing bearish sentiment.

With the all-time high at $4,950.08 achieved in August 2025, the current price is approximately 45.8% below this level, indicating significant downside potential if market conditions do not improve. The overall trend remains negative as evidenced by the consistent downward movement across various time frames.

Considering the current technical indicators and the overall market sentiment, a Hold rating is appropriate. While there are signs of oversold conditions that could lead to a short-term bounce, the longer-term trend remains bearish, suggesting caution before making new purchases.