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ethereum's price seemed to return to recovery, claiming the psychological level of $ 2,000 earlier for the week. However, Altcoin was among cryptographic assets strongly affected by the latest inflation data in the United States, which returned below $ 2,000.
This last correction highlights the struggles of the price of ethereum in recent months, without having a lower yield even in the middle of a bull throughout the market. Interestingly, a prominent indicator has shown the imminence of a background for the second largest cryptocurrency.
Is eth ready for a rebound?
In a March 28 publication on the x platform, Mercado Tonkicist (CMT) Tony Severino <a target="_blank" href="https://x.com/tonythebullBTC/status/1905680482043363392″ target=”_blank” rel=”noopener nofollow”>shared that a critical indicator for the price of ethereum is at the 2018 Boldist Market levels. The cryptography expert suggested that the alternative could be preparing for a bouncing of its recent minimum.
This analysis is based on recent changes in the indicator of the relative resistance index (RSI) of 1 month in the monthly ethereum graph. The relative resistance index is an impulse indicator used in the technical analysis to measure the speed and magnitude of the price changes of an asset.
He RSI oscillator It is used to detect if an asset is being overwhelmed or oversized, indicating the tendency of a trend/price reversion. Usually, an RSI reading of more than 70 signals a overcompra market condition, while a relative force index value below 30 suggests an overall condition.
According to Severino, the Monthly ethereum RSI indicator is currently at a value that is last seen during the Bear market in 2018. As observed in the table below, the indicator also reached this fund after crypto market capitulation events in May and November 2022.
<img decoding="async" class="aligncenter" src="https://technicalterrence.com/wp-content/uploads/2025/03/Ethereum-Monthly-RSI-in-2018-Market-Low-What-happened.jpeg" alt="ethereum” width=”1200″ height=”759″/>
Source: @tonythebullBTC on x
After reaching this level, the relative force index and the price of eth tend to recover to new maximums. In the 2018 cycle, the price of ethereum increased by almost 4,000% of around $ 120 to the maximum current of $ 4,878.
Meanwhile, Altcoin returned to this record price in early 2024 after reaching this RSI Fund in 2022. If the story was repeated, the price of eth could recover from its current point to a new maximum.
However, Severino stood out in his position that the monthly fund of ethereum RSI in 2018 occurred after the price fell approximately 94% from its maximum of all time. The eth price is only 56% drifting from the local maximum and 63% of its current record. Therefore, it remains to be seen if the price of ethereum is at risk of additional decrease.
ethereum price at a glance
At the time of writing this article, the price of eth is around $ 1,880, which reflects a decrease of almost 7% in the last 24 hours.
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The price of eth on the daily timeframe | Source: ETHUSDT chart on x/nHNaYGCF/" target="_blank" rel="noopener nofollow">TradingView
Unspash's prominent image, TrainingView graphics
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