Is Ethereum Oversold? Experts Predict $3,000 Target as Market Recovery Looms

Share This Post

Could a Bitcoin Reserve Change America’s Economic Future

The post Is Ethereum Oversold? Experts Predict $3,000 Target as Market Recovery Looms appeared first on Coinpedia Fintech News

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has been a cornerstone of the cryptocurrency market. Recently, it saw a notable 8.8% price increase in just 24 hours. This has led experts, like Matthew Sigel, Head of Digital Assets Research at VanEck, to believe that Ethereum may have been oversold. Sigel predicts that a renewed speculative interest could drive Ethereum’s market recovery.

Ethereum’s Road to Recovery

Ethereum has had a tough year, especially when compared to Bitcoin (BTC), with the ETH/BTC pair reaching multi-year lows. However, recent developments in the market indicate a potential change in Ethereum’s fortunes. 

Meanwhile, Matthew Sigel remains optimistic about Ethereum’s future. He believes the cryptocurrency is currently “oversold,” indicating that its price may be undervalued. 

However, Sigel predicts that with renewed market interest and investment, Ethereum could see a significant rally in the coming months. Despite the recent struggles, Sigel is confident that a recovery is on the horizon.

Positive Sentiment on Ethereum’s Rise

Many analysts are now bullish on Ethereum, believing that a significant rally could be ahead. Prominent crypto trader Byzantine General suggests that Ethereum might be preparing for a “monster rally.” 

This prediction is backed by analysts like Benjamin Cowen, who highlights the ETH/BTC trading pair as a key indicator. Cowen believes that if this pair breaks above its Simple Moving Average (SMA), Ethereum could soon experience significant price growth.

Ethereum’s Price Action 

As of now, Ethereum’s price action shows a cautious sentiment in the market currently trading around $2818. Looking at the technical analysis Ethereum’s 50-day Exponential Moving Average (EMA) sits at around $2,744, and the 200-day EMA is at approximately $2,805, indicating a bearish trend in the short to medium term. 

However, Ethereum’s Relative Strength Index (RSI), at around 57, suggests that Ethereum could be nearing oversold territory.

For Ethereum to maintain its momentum, it must break through the resistance level at $2,876. If successful, the next target could be around $3,000, with the ultimate goal of reaching $3,300.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Peter Schiff: Bitcoin Could Crash Below $65K if Nasdaq Enters a Bear Market

Bitcoin faces a steep decline if the Nasdaq downturn deepens, warns Peter Schiff, predicting a wave of panic selling that could shake investor confidence and destabilize markets Peter Schiff Predicts

SEC vs Ripple: How Lawsuit Over XRP Could Wrap up in Days

A legal expert has outlined how the SEC’s lawsuit against Ripple over XRP could end within days, but a major hurdle—navigating the court’s injunction—may complicate the

Is The Bitcoin Cycle Peak In? Historical Halving Data Suggests Upside Potential Into Late 2025

Bitcoin is now down over 29% from its all-time high (ATH) in January, and speculation about a coming bear market is growing among investors After weeks of heavy selling pressure, Bitcoin has entered

France central bank governor says Trump is “sowing the seeds of future upheavals” by supporting crypto

Francois Villeroy de Galhau, the governor of Banque de France and the European Central Bank Governing Council’s member, believes US president Donald Trump is making a huge mistake by supporting

640,000 Chainlink (LINK) Withdrawn From Exchanges In 24 Hours – Bullish Accumulation?

Chainlink (LINK) is currently trading below crucial resistance levels, which could trigger a strong rally if bulls manage to reclaim them However, volatility and uncertainty have dominated the market

To Sell or Not to Sell: Redditors Debate Bitcoin’s Million-Dollar Moment

A Reddit thread exploring whether bitcoin holders would sell at $1 million reveals a divided yet pragmatic community weighing financial goals, inflation risks, and long-term faith in the leading