$ETH look at technical indicators (Weekly timeframe):

* RSI (Relative Strength Index): at 19.56. This very low reading strongly indicates that #Ethereum is in the "oversold" zone. Historically, oversold areas are often followed by a price recovery.

* Stochastics: also supports this idea with low readings (K: 10.70, D: 13.74, J: 4.62). This confirms that the price may currently be under excessive selling pressure.

* MACD: shows negative readings (DIF: -357.14, DEA: -196.73, MACD: -160.41), indicating that the bearish trend has been dominant recently, but these readings may start to converge upwards if the rebound continues.

📈 Moving Averages:

* MA(7): 1,916.82

* MA(25): 2,825.67

* MA(99): 2,588.09

The current price (2753.80) is above MA(99) and just below MA(25), indicating a potential resistance area at MA(25) on this timeframe. Breaking through it could enhance the bullish trend.

🚨 Important points to monitor:

* The RSI and Stochastics indicators indicate the possibility of an imminent bullish rebound or the beginning of this rebound after a period of decline.

* The large trading volume (over $7.6 billion) shows significant interest in the coin.

💡 Summary:

Despite the ongoing selling pressure reflected by some indicators, #ETH reaching "oversold" areas on the weekly timeframe, along with the recent rise of 6.87%, may indicate that we are witnessing the beginning of a bullish rebound. Close monitoring of the MA(25) level will be critical.