WETH is currently priced at $2,953.26, reflecting a slight decline of 1.34% over the past 24 hours, with a trading range between $2,934.59 and $3,036.48. The trading volume stands at approximately $83.4 million, indicating moderate activity but relatively low volatility given the 24-hour price movement.

The hourly moving averages show a bearish trend, with the 8 SMA at $3,009.95 and the 13 SMA at $3,013.96, both indicating negative momentum. In contrast, the 144 SMA is slightly bullish at $2,942.87, suggesting some potential support at this level but overall indicating mixed signals across different time frames.

The 1-hour RSI is at 28, indicating that WETH is in oversold territory, which could suggest a short-term rebound may be possible. However, the 7-day RSI at 49 reflects a neutral momentum, and the 14-day price change of -10.88% indicates a more significant downtrend that could deter immediate bullish sentiment.

From a fundamental perspective, WETH remains significantly below its all-time high of $4,950.08, suggesting potential long-term upside if market conditions improve. However, the recent price action and RSI indicators indicate a cautious short-term outlook as the cryptocurrency is currently facing downward pressure.

Given the current technical indicators, the recent price action, and the overall market sentiment, a Hold rating is warranted. This reflects a recognition of potential short-term oversold conditions while acknowledging the bearish trend that could persist in the near term. Investors should monitor for signs of a reversal or further confirmation of support before considering any positions.