- Ethereum’s Stochastic RSI signals a bullish reversal, hinting at a potential breakout.
- ETH/BTC pair shows recovery, suggesting growing strength against Bitcoin.
- Holding above $2K could push Ethereum toward the $2.5K resistance level.
For Ethereum—ETH, the Stochastic RSI, a key momentum indicator, now flashes a bullish signal. This setup has often led to explosive rallies over the past five years. Before reaching the all-time high of $4,869, Ethereum showed the same pattern. That signal triggered a massive breakout. Now, history may repeat. With Ethereum trading at a seven-month low, investors must decide—buy now or wait? The next move could set the tone for the coming weeks.
Stochastic RSI Points to a Strong Reversal
The Stochastic RSI measures momentum by tracking overbought and oversold conditions. Ethereum has now plunged into extreme oversold territory. Every previous occurrence of this setup led to a significant rally. Before Ethereum soared past $4,869, the Stochastic RSI bottomed out before crossing bullish. A similar event fueled the post-election surge, pushing price beyond $4K.
Now, another bullish crossover appears imminent, signaling a possible reversal. Adding strength to this outlook, the ETH/BTC pair has started recovering. After sinking to a four-year low, Ethereum now shows renewed strength against Bitcoin. This shift suggests growing demand and a possible market trend change.
Buy-the-Dip Interest Gains Momentum
Ethereum’s drop to $2,141 has attracted strong buy-the-dip interest. A massive 431K ETH outflow from Kraken points to accumulation. Large outflows often signal investor confidence in future gains. Meanwhile, traders liquidated $14.31 million in long positions, adding to market volatility.
A reversal could spark a short squeeze, pushing prices higher. Holding above $2K remains critical. If support holds and Bitcoin stabilizes, Ethereum could gain enough strength to test $2.5K. Accumulation trends and technical signals hint at a rally ahead. Probably, buyers will act before momentum shifts.
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