Ethereum is trading in an area that technical analysts see as unusually important: RSI is hovering near historically weak levels, and the broader price structure is being compared with past market-bottom formations. Analyst Kamran Asghar says ETH may be building a setup similar to earlier cycle lows, particularly the 2022 bottom.
According to Asghar, Ethereum previously spent an extended period inside an accumulation range while RSI pulled back toward long-term support. He sees a similar combination now. In his view, if ETH breaks upward from the current band, the move could lead to a retest of prior cycle highs, with price moving back above $4,000.
Low RSI and consolidation range draw attention
RSI, or the Relative Strength Index, measures the speed and magnitude of price moves. The source notes that persistently low RSI readings are often associated with heavy selling pressure and broad market weakness. Asghar’s comparison centers on a familiar pattern: price remains trapped in a prolonged consolidation zone while RSI slides toward long-term depressed levels. In earlier cycles, that type of structure was followed by strong recoveries.
The short-term question is simple. Ethereum needs to defend this support area. If the historical pattern repeats, the current weak phase could become the base for a new and extended uptrend; if support fails, the recovery case loses force and takes longer to develop.
Multi-year symmetrical triangle reaches a critical point
Analyst MikybullCrypto focuses on a longer-term chart structure. He says Ethereum is approaching a key support level inside a multi-year symmetrical triangle, a formation shaped by lower highs and higher lows over time. That puts ETH near the later stage of a long consolidation pattern that may decide the next major move.
In his reading, Ethereum is now trading close to the lower boundary of that large triangle and is testing the supporting trendline. This area could become a turning point for the market. The report also notes that RSI remains low in this setup as well; in prior cycles, similarly weak readings often lined up with periods of extreme bearishness before trend reversals took hold.
Both analysts arrive at a similar condition for the bullish case. If support holds, Ethereum may have room to break out of its long-term range and challenge higher levels again. If that support breaks, the constructive setup weakens, and any meaningful rebound may be delayed. For now, the central issue is whether ETH can stay above this multi-year support line.