Ethereum's RSI Plunges to Historic Low, Pectra Upgrade Looms

Coin WorldTuesday, Feb 11, 2025 2:38 am ET

1min read

ETH--

Ethereum's Relative Strength Index (RSI) has plummeted to a historic low, approaching the extreme oversold zone, according to a recent chart report by Matrixport. This indicator suggests that after a recent sharp correction, the ETH price may be poised for a rebound.

Adding to the bullish sentiment, Ethereum's Pectra upgrade is scheduled to launch in March 2025. This upgrade, which merges the originally planned Prague and Electra versions, is expected to significantly improve the network's scalability, efficiency, and user experience. Before the upgrade goes live, the market is expected to see multiple testnet announcements, which could serve as a bullish factor to drive market sentiment.

While past upgrade events have often led to a "sell the news" market trend, the current oversold context may present an opportunity for ETH price recovery. As Ethereum continues to evolve and adapt, investors and traders alike are closely monitoring the market for signs of a potential rebound.

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