The largest subcoin Ethereum (ETH) $2,660.1due to the latest market fluctuations, it was quite close to the over -selling zone. According to the latest report by Crypto Money Research and Investment Company MatrixPort, the relative power index of the Altcoin king (RSI) fell to a low level. According to the company, this table in RSI may indicate Ethereum’s potential to recover after having a harsh correction. Matrixport showed the big network update that will take place next month as an important factor supporting price recovery. The upcoming pectra update was planned to make Ethereum network more efficient and scalable. The update is expected to be positively reflected in the price movements and to alleviate the sales pressure on the market.
Ethereum’s Pectra update is coming in March
Ethereum Network in March Pectra update will enter into an important process of change. The update aims to significantly increase the performance of the Ethereum network by combining Prague and Electra updates, which have been planned separately in a single package. The scalability and processing capacity of the network with Pectra will be largely developed. Positive results are also expected, such as improvement of user experience and decreasing transaction fees.
Ethereum’s past update processes were often greeted by the market with the strategy of “buy news, sell rumors”. However, the fact that Ethereum’s RSI level is close to the excessive sale zone suggests that a different scenario may be experienced. Test network announcements that will take place until March may increase the expectations of the market participants, which may be positively reflected in the price movements.
It can be a RSI purchase signal at a low level.
RSI, crypto currency It is an important indicator that shows how much the prices are in the “excessive purchase” or “over -selling” zone. It is rare that the RSI value of Ethereum goes to such low levels. Such low levels often indicate that prices hit the bottom and then recovery.
Market analysts say that these levels can cause long -term investment opportunities. However, it is also emphasized that short -term investors should be careful. It seems likely to increase volatility before possible fluctuations and upcoming update. In March Pectra Until the update, market sensitivity may remain high.
This transformation process, experienced by Ethereum, is full of important developments that may directly affect the movement of the price. The advantages of the upcoming network update can create new opportunities for both investors and Ethereum ecosystem.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
