Wrapped stETH (WSTETH) is currently trading at $3,087.18, reflecting a significant decline of 7.81% over the last 24 hours. The price movement shows a daily range between $3,083.74 and $3,371.17, indicating heightened volatility with a daily range of 287.43%.

Volume over the past 24 hours stands at 76,915,299, with a volume-to-market cap ratio of 0.71%. This relatively low volume compared to the market cap suggests a lack of strong buying interest, which may contribute to the recent price decline.

The hourly moving averages indicate a bearish trend across multiple time frames, with the 8 SMA at $3,267.48 showing a decrease of 5.52%. The longer-term moving averages also reflect persistent downtrends, with the 144 SMA at $3,522.11 indicating a drop of 12.35%, further supporting the bearish sentiment.

The 1-hour RSI is extremely low at 4, signaling that WSTETH is significantly oversold in the short term. The 7-day RSI at 40 also suggests weakness, indicating that while the asset is not in extreme oversold territory, it is still under pressure with a 7-day price change of -14.76%.

On a broader scale, WSTETH has experienced notable declines over the past 14 days (-24.12%) and 30 days (-15.55%). This consistent negative performance, compounded by the recent high volatility, suggests that market sentiment remains bearish.

Given the combination of technical indicators and the negative price momentum, the recommendation is to hold WSTETH. A potential reversal could occur if a stronger buying interest emerges, but current conditions do not favor initiating new positions.