WETH is currently priced at $2,819.34, experiencing a significant decline of 7.31% over the past 24 hours. The daily trading range indicates heightened volatility, with a low of $2,777.02 and a high of $3,059.60, suggesting potential price instability.

Volume stands at $617,714,594, which corresponds to a volume/market cap ratio of 8.37%, indicating a moderate level of trading activity relative to its market capitalization. The hourly moving averages demonstrate a bearish trend, with the 8 SMA at $2,849.16 down by 1.05% and the 144 SMA at $3,083.63 down by 8.57%, reinforcing the downward momentum.

The short-term indicators reflect a bearish sentiment, with the 1-hour RSI at 25, signaling oversold conditions, while the 7-day RSI at 44 suggests weakness but not yet oversold territory. Over the past week, WETH has decreased by 12.86%, and its 14-day and 30-day price changes of -15.52% and -27.07%, respectively, indicate a sustained downward trajectory.

The all-time high for WETH remains at $4,950.08, achieved on August 24, 2025, highlighting a substantial gap from the current price level. This long-term perspective suggests potential for recovery, but current trends necessitate caution.

Given the ongoing bearish momentum, consistent declines in price, and overbought signals, I recommend a Sell rating. The lack of bullish indicators and the current market sentiment suggest that further declines may be possible before a reversal can be considered.