Ethereum (ETH) price may be entering the early stages of a new bullish phase. Both market analysts and on-chain data indicators reveal technical behavioral trends that support a renewed phase of strength for ETH price.
The monthly RSI created a new support level by touching a historical zone. Long-term holders also performed substantial withdrawals of ETH from centralized exchanges.
The RSI Retest Signals Historical Rally Setup for Ethereum (ETH) Price
When writing, the Relative Strength Index (RSI) was currently positioned in a zone that previously preceded major Ethereum rallies. According to market analyst cas_abbe, ETH’s monthly RSI has returned to the 40–42 range.
This level has been tested only three times before. Each time, it was followed by gains of more than 340%.
In 2019, Ethereum (ETH) gained approximately 349% after reaching this zone. A 2020 retest preceded a rally of over 5,400%, and in 2022, ETH rose by more than 359% after a similar setup.
The analyst notes that ETH price is nowconsolidating in a technical “bottom area”, just as it did during the past three cycles. If the pattern repeats, ETH could reach $8,000 by the fourth quarter of 2025.
