WETH

WETH has been showing negative momentum in recent trading sessions, with a loss of 0.03% in the last 24 hours. The current price of $1,827.24 represents a significant level for traders and investors.

Key Insights:

• WETH is trading within its established 24h range between $1,815.12 and $1,848.99.
• Trading volume of $268.1M is accompanying the downward pressure, indicating moderate market participation.
• Market capitalization stands at $5.3B, establishing it as a major altcoin.
• Circulating supply of 2,889,923.109 WETH with no defined maximum supply.

Market Outlook:

The short-term outlook for WETH appears mixed based on SMA analysis. Short-term weakness is noted despite a positive weekly backdrop. The asset is testing its 24-hour high near $1,848.99, with breakout potential. The asset is challenging support near the 24-hour low of $1,815.12. Trading volume (5.1% of market cap) is moderate. The RSI indicator is currently neutral (32.5). MACD histogram is positive (bullish momentum). Price is currently above the 50-day SMA ($1,789.72). The longer-term 200-day SMA is at $2,722.78. Potential catalysts include TVL growth, protocol revenue generation, and cross-chain integrations. As always, proper risk management is advised given the inherent volatility of crypto markets.