Matrixport： Ethereum approaches extreme oversold range, relative strength index (RSI) drops to historic low

BlockBeats news, on February 11th, Matrixport released today's chart report, stating that Ethereum's Relative Strength Index (RSI) has fallen to a historic low, approaching an extremely oversold range. Usually means that after experiencing a recent significant correction, ETH price may have the conditions for a rebound. In addition, the Ethereum Pectra upgrade plan is scheduled to be launched in March 2025, which is expected to significantly enhance the scalability, efficiency, and user experience of the network. This upgrade will merge the original Prague and Electra versions to create a more powerful technological update. Before the official launch of the upgrade in March, the market is expected to release multiple testing website announcements, which may become a positive factor driving market sentiment. Although Ethereum's past upgrade events have often been accompanied by a "sell message" market, in the current oversold context, this upgrade may create an opportunity for ETH prices to rebound.