WETH is currently trading at $2,846, reflecting a 24-hour decline of 3.25%. The daily price range has been notably volatile, with a high of $3,059.60 and a low of $2,801.33, indicating significant market fluctuations.

The volume over the past 24 hours stands at approximately 165.87 million, contributing to a volume-to-market cap ratio of 2.20%. The short-term technical indicators show bearish momentum, with hourly moving averages trending downwards, particularly the 8 SMA at $2,986.56, which is down 4.71% from the current price.

The 1-hour RSI is extremely low at 17, suggesting that WETH is oversold in the short term, while the 7-day RSI at 44 indicates a lack of strong bullish momentum. Furthermore, the price has seen a notable decline over multiple time frames, with a 30-day change of -29.07%, reflecting prolonged bearish sentiment.

Comparing the current price to its all-time high of $4,950.08 reached in August 2025 highlights the significant depreciation in value. This decline in price coupled with the technical indicators suggests that WETH is facing substantial resistance in the mid-term, with no immediate signs of a recovery.

Considering the overall bearish trend and the recent price action, a Hold rating is recommended at this time. While the extreme oversold conditions may present a potential for a short-term rebound, the lack of upward momentum and continued decline warrants a cautious approach.