10x Research experts suggest that the Ethereum (ETH) rate may recover to levels above $3000 in the near future, and possibly even higher. This is indicated by a number of factors, in particular, the value of the relative strength index (RSI) of the asset, which indicates that it is oversold.
As analysts pointed out, the RSI indicator has already dropped to 36%. During previous drawdowns, for example, in August 2023, May and August 2024, this was always followed by a rebound in asset prices.
According to their data, it is the second largest by capitalization. kriptovalyuta suffered quite seriously due to the beginning of trade disagreements between the USA and other countries. At the same time, the price dynamics have now changed in a more favorable direction.
Ethereum is trying to regain bullish momentum and may finally be able to rise above $3000. Sentiment towards the second-largest crypto asset is growing, and many medium- and long-term holders have taken advantage of the situation, experts said.
In their opinion, two additional factors could contribute to the growth of asset prices: the rollout of the Pectra update and the publication of favorable inflation data in the US.
