Matrixport: Ethereum RSI indicator falls to historical low, network upgrade may boost rebound amid oversold conditions

2025-02-11 15:18:57

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ChainCatcher news, Matrixport released today's chart showing that the Relative Strength Index (RSI) of Ethereum has fallen to a historical low, approaching the extreme oversold zone. This typically indicates that after a significant recent pullback, the ETH price may have conditions for a rebound.

In addition, the Ethereum Pectra upgrade is scheduled to launch in March 2025, which is expected to significantly enhance the network's scalability, efficiency, and user experience. This upgrade will merge the originally planned Prague and Electra versions to create a more powerful technical update.

Before the official launch of the upgrade in March, the market expects multiple testnet announcements, which could serve as positive factors to boost market sentiment. Although past Ethereum upgrade events often accompanied "sell the news" trends, under the current oversold context, this upgrade may create opportunities for the ETH price to rebound.

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