Ethereum на грани восстановления: индикаторы указывают на возможный рост Translation: Ethereum on the brink of recovery: indicators point to potential growth

The RSI indicator for Ethereum has fallen to its lowest levels since April, when the cryptocurrency was trading at around $1400. Analyst Mikybull Crypto has predicted a price rebound for ETH.

“Ethereum is starting to show signs of forming a local bottom. Key metrics indicate a reversal. […] The RSI has entered a zone that could trigger a bullish reversal,” he stated.

As noted by blockchain researcher Coin Bureau, the indicator has dropped below 15, emphasizing that such occurrences have only happened 19 times in the past decade.

“This is an extremely rare signal indicating extreme overselling of the asset,” he added.

Trader Max Crypto drew a parallel to June, mentioning that during a similar situation then, Ethereum’s price surged by 134% over two months.

Analyst Crypto Devil also pointed out Ethereum’s approach to a local bottom. He believes the asset needs to maintain a position above $3900 to test the resistance at $4100.

A deeper correction could bring the price back to $3600 or into the range between $3300 and $3000, he remarked.

Another expert, Jelle, believes that Ethereum must hold its current levels. If it does, the cryptocurrency could reach new all-time highs.

At the time of writing, the asset is trading around $3900, having dropped 2.2% in the last 24 hours.

It’s worth noting that institutional investors have withdrawn 10% of Ethereum’s supply from trading platforms. QCP has warned about the risk of the cryptocurrency declining to $3300.