WETH is currently trading at $2,958.76, experiencing a slight decline of 1.01% over the past 24 hours. The daily range has been relatively tight, with a high of $2,989.12 and a low of $2,930.15, indicating a volatility of 58.97% in this period.

Trading volume stands at $163,940,244, representing 2.44% of the market cap, which suggests a moderate level of trading activity. The hourly moving averages indicate a slight bullish trend with the 8, 13, and 21 SMAs all showing marginal increases, while the 144 SMA is declining, reflecting some longer-term bearish sentiment.

The 1-hour RSI is at 49, indicating neutral momentum, while the 7-day RSI of 39 suggests oversold conditions that could lead to a potential bounce. However, the 7-day price change of -10.81% and the 14-day decline of -4.28% highlight ongoing bearish pressure in the medium term.

In the last 30 days, WETH has managed a slight increase of 0.26%, but this is overshadowed by the negative momentum observed in the shorter time frames. With the all-time high at $4,950.08, WETH is currently at approximately 40% of its peak value, indicating significant room for recovery if market conditions improve.

Considering the current technical indicators and market sentiment, WETH appears to be in a consolidation phase with bearish tendencies persisting in the short to medium term. Therefore, the recommendation is to Hold, as investors should observe for a potential reversal before making any new positions.