Ethereum Price Reversal Ahead As RSI Slips Into Oversold Region

Popular crypto analyst Lark Davis recently noted that Ethereum price has fallen 20% over the past two weeks, pushing its Relative Strength Index (RSI) into the most oversold territory since April. The last time ETH reached such levels, it went on to rally 134% within two months.

The second-largest cryptocurrency has bounced from the $3,800–$3,900 range. Davis noted that this is a key support level that ETH price must hold to maintain a bullish outlook. Market watchers suggest that if broader crypto sentiment improves in the fourth quarter, this oversold signal could pave the way for Ethereum to target the $7,000–$8,000 range.