{"id":12538,"date":"2025-02-11T19:19:18","date_gmt":"2025-02-11T19:19:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12538"},"modified":"2025-02-11T19:19:18","modified_gmt":"2025-02-11T19:19:18","slug":"ether-poised-for-a-rebound-to-3k-from-oversold-levels-analysts","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12538","title":{"rendered":"Ether Poised for a Rebound to $3K From Oversold Levels: Analysts"},"content":{"rendered":"
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Ether (ETH), the second largest cryptocurrency by market capitalization, recently sunk to its weakest price compared to bitcoin (BTC) since late 2020 in a trade war-fueled panic crash<\/a>, but a relief bounce might be on the horizon.<\/p>\n<\/p>\n

“ETH looks to be trying to establish some bullish momentum and could be looking to finally make a recovery back above $3,000,” LMAX strategist Joel Kruger said in a Tuesday morning report. “Sentiment towards the world\u2019s second largest crypto asset has been back on the rise with many medium and longer-term players stepping<\/a> in to take advantage of the recent dip,” he added.<\/p>\n<\/p>\n

“ETH looks to be trying to establish some bullish momentum and could be looking to finally make a recovery back above $3,000,” LMAX strategist Joel Kruger said in a Tuesday morning report. “Sentiment towards the world\u2019s second largest crypto asset has been back on the rise with many medium and longer-term players stepping in to take advantage of the recent dip,” he added.<\/p>\n<\/p>\n

Ether’s relative strength index (RSI), a key technical indicator representing momentum, dropped to near 35%, which foreshadowed a rebound in several previous occasions from similar oversold levels, crypto analytics firm 10x Research noted in a report.<\/p>\n<\/p>\n

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The upcoming Pectra upgrade<\/a>, scheduled for March, could also provide a “modest wave of hype” in the next few weeks, the report added. Wednesday\u2019s U.S. CPI inflation report, if it arrives in line with analyst forecasts of 2.9% or lower, could also boost crypto market sentiment and fuel ETH higher, the report said.<\/p>\n<\/p>\n

Ether is currently battling with key resistance at around $2,650, and a breakout could see prices climbing to the next resistance level of around $3,000, 10x Research analysts said.<\/p>\n<\/p>\n

Read more: Ether Has Underperformed, but Total Value Locked on Ethereum Is Rising: Citi<\/a><\/p>\n<\/p>\n

ETH shed 20% of its value over the past month as the border altcoin market bled against bitcoin, which consolidated sideways in a narrow range around the $100,000 level. The second largest crypto was recently down 1.5% over the past 24 hours at $2,644, and a rebound from current levels to $3,000 would translate to a 13.5% gain.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ether (ETH), the second largest cryptocurrency by market capitalization, recently sunk to its weakest price compared to bitcoin (BTC) since late 2020 in a trade war-fueled panic crash, but a relief bounce might be on the horizon. “ETH looks to be trying to establish some bullish momentum and could be looking to finally make a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12538","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12538"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12538\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}