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Ethereum’s monthly Relative Strength Index(RSI) has dropped to its most oversold ever, and whales are accumulating the dip. So, are ETH bulls rallying soon?
Ethereum has seen its price drop significantly as of Q1 2025. Despite other altcoins rallying after the trade war freeze, the king of altcoins saw a price exhaustion in a recovery attempt. As of this writing, ETH is trading at $1583 per CoinMarketCap data.
Looking at Ethereum’s 8-hour chart, the coin has been consolidating inside a descending channel pattern in Q1, 2025.
With the price dropping to a 2-year low, ETH’s Relative Strength Index(RSI) has dropped to 40. This suggests that the coin is oversold, leaving the price in trenches. The bulls have stepped in as Ethereum’s momentum and MACD(12,26) flash “buy”.
According to CryptoGoos on X (formerly Twitter):
WHALES HAVE BOUGHT OVER 200,000 $ETH IN THE LAST 3 DAYS. THEY’RE BUYING THE DIP!
With potential whale accumulation in the dip, ETH can break above the $1650 key resistance zone on its descending channel pattern. A confirmed breakout could see ETH rallying to $2800 in the next few weeks.
[…] low as of April 2025. In the past week, Scoopist noted that the king of altcoins was hitting the oversold zone as prices plunged. Cryptoquant data has revealed a surge in Ethereum’s active addresses, […]