Ethereum (ETH) Price Prediction: Oversold RSI Signals Bounce While Bears Hold Control

Ethereum is currently trading around the $2,920 level and has started to regain some upside traction on the lower timeframes. As anticipated in our previous analysis, ETH broke and closed below the $3,050 support zone and has now settled just above the critical $2,700 area. The recovery so far is measured and still lacks strong conviction, but the daily RSI has pushed into oversold territory for the first time in weeks. That oversold reading raises the probability that this nascent bounce could develop into something more significant if buying volume continues to pick up. Let’s dive into the latest Ethereum charts to see where the price could be headed in coming weeks.

Our Ethereum Price Prediction Summary

• Ethereum remains in a clear downtrend after losing the $3,050 zone and failing to reclaim it so far.
• Oversold conditions on the daily RSI makes a short-term bounce a probable outcome.
• The broader bearish bias stays intact until price delivers a convincing break and close above the $3,600 major resistance.

Analyzing the Charts

Bulls Need to Reclaim $3,050 to Shift Short Term Bias

On the 4-hour timeframe, the picture is pretty clear. Ethereum broke below the $3,050 support as expected, turned that level into resistance, and after tagging the $2,700 area it’s now bouncing back up for the almost inevitable retest. Now this retest is quite significant. If price manages to reclaim and close above $3,050 with decent volume, it would flip the short-term narrative and hand the bulls a proper relief rally they’ve been desperate for over the past couple of weeks. On the other hand, if $3,050 caps the upside and rejects price again, we’ll probably see some sideways consolidation underneath it for a bit before the bears regain control and push for fresh lows in the days ahead.

Oversold Readings Offer Relief, but Bears Still Drive the Market

On the 1-day timeframe, the broader structure is still bearish. Ethereum met strong rejection at the $3,600 resistance and that triggered another sharp sell-off. Price failed to hold the $3,050 support and plunged lower, but it did manage to find buyers around the $2,700 zone and is now bouncing from there.

The daily RSI has pushed into oversold territory, which increases the odds of short-term relief. The levels to watch stay the same. First resistance sits at $3,050 and then the major ceiling at $3,600. A convincing break and close above $3,050 would confirm a short rally, although $3,600 remains the true test for any bullish shift.

If the bears keep control and cap the bounce below $3,050, expect some consolidation first and then another push lower that puts the $2,700 support back under pressure. Short-term relief looks likely from these oversold conditions, but the our overall Ethereum price prediction is still leaning bearish.

Final Takeaway: What is Next for Ethereum?

In summary, Ethereum remains in a bearish structure after breaking and closing below $3,050. The daily RSI is now oversold, and price is bouncing from the $2,700 zone, which makes a short-term move back toward $3,050 and potentially $3,250 the most probable near-term scenario.

The overall trend will stay bearish unless $3,050 flips back to support and, more importantly, $3,600 is reclaimed on higher-timeframe closes. Until those levels are taken, any upside is corrective, and the risk of lower prices remains intact if the bounce fails at $3,050. Volatility remains high, but the next few days can show some positive movement for the bulls.