This article is also available in Spanish.
Last week, ETHEREUM (ETH) decreased by 13.8 %, and currently traded the decisive support level of $ 2000. While the weekly relative power index of digital assets (RSI) has scored its lowest point in three years, analysts warn that the negative side is still at the forefront.
Ethereum rsi at the lowest years in the years
The commercial tariffs of US President Donald Trump entered Canada and Mexico in effect earlier today, which raised concerns about the imminent recession. According to the latest Data From KALSHI, there is a possibility of 39 % of the recession that occurs in 2025.
Related reading
The broader encryption market also felt by pressing these definitions, as the total maximum market decreased from $ 3.7 trillion on December 14 to $ 2.8 trillion at the time of this report. Main cryptocurrencies such as Bitcoin (BTC) and ETH have been significantly affected, a decrease of 7.1 % and 8.9 % in the past 24 hours, respectively.
Unlike BTC, which witnessed a wonderful 2024 with many high levels at all (ATH), ETH Struggle Since its peak of $ 4,878 in November 2021, last year, ETH decreased by 41.6 %, while BTC increased by 26 %.
He added the latest withdrawal in the encryption market to Eth's ChallengesIts reaching a level of $ 2,000 is an important psychologically. Crypting analyst Jesse Olson indicated that the intensive sale pressure has prompted the ETH weekly relative index to 35.87, its lowest reading since May 2022.
Olson also explained that the bottom was not reached in May 2022, as the eth decreased after that 60 %. If ETH follows a similar path, it may decrease by another 60 % from $ 2000, and it may reach about $ 800.
Merlijn Trader colleague Repeat Olson's concerns, saying Ethereum “currently plays a waiting game.” The analyst emphasized that ETH is close to the level of “make or breaking” decisive on the relative power index.
The analyst urges not to sell ETH panic
Despite the high total economic uncertainty due to Trump's commercial tariffs, some analysts are still confident that ETH is close to the bottom and has resumed ascending to the rise soon. In X Publishing, one encryption analyst Note:
ETHEREUM currently re -testing EMA for 21 days on the chart for 3 months. ETH did not close a candle below this level. We are about to witness history or we are about to say. Be very careful to sell panic!
Related reading
There may still be hope for the second largest encrypted currency, as the modern analysis found that the ethical exchange balances of it Decline To the lowest level in 9 years, strengthening the novel of the scarcity of digital assets. At the time of the press, ETH is trading at $ 2,126, a decrease of 8.9 % in the past 24 hours.
A distinctive image of Unsplash, X and TradingView.com plans
The post Ethereum Weekly RSI Drops To Lowest Level Since May 2022 first appeared on Investorempires.com.