Ethereum's RSI Crosses 50, Van de Poppe Calls $2,400 a Buy Zone

Ethereum has been trading below $2,400, with a support level identified at $2,100 and resistance near $2,750. This price action suggests a potential continuation of the upward trend. The Relative Strength Index (RSI) for Ethereum has crossed above 50 for the first time since March, indicating a shift in momentum towards bullish sentiment.

Michaël van de Poppe, a prominent cryptocurrency analyst, has labeled Ethereum prices below $2,400 as a "buy zone." According to his analysis, this price range presents a significant opportunity for investors before a potential breakout toward all-time highs. Van de Poppe's outlook is based on a chart showing Ethereum's sharp rebound after bottoming out below $2,000 earlier in the year. The chart highlights a high timeframe support zone near $2,100 and a resistance area between $2,600 and $2,800, with a specific resistance point noted at $2,750.

Van de Poppe's analysis suggests that Ethereum could consolidate near the resistance level before continuing its upward trajectory. This bullish setup implies that traders should monitor the $2,100 to $2,400 range for signs of support and accumulation. A confirmed breakout above the resistance zone could lead to further gains, although no specific timeframe for this breakout is provided.

The RSI's climb to 52.49, breaking above the neutral 50 mark, reflects increasing buying momentum. The RSI measures the speed and strength of price changes on a scale from 0 to 100, with levels above 70 indicating overbought conditions and levels below 30 suggesting oversold conditions. A position above 50 typically signals bullish pressure. The RSI's movement above both its average and the midpoint level suggests a potential trend reversal, highlighting a growing change in sentiment that could support further gains if broader market conditions align.

With the RSI direction turning upward, traders now have an early signal to monitor price continuation, especially if volume confirms the momentum. This renewed trend shift, without extreme conditions, indicates a more sustainable upward movement compared to earlier failed attempts. The current RSI breakout, combined with Van de Poppe's analysis, presents a compelling case for Ethereum's potential surge toward all-time highs.