Ethereum USD Price Slides 4.73%, Technical Oversold Signals Potential Bounce

Ethereum USD has been experiencing significant selling pressure in recent days, with its price declining by 4.73% on February 24, 2026. This decline is part of a broader market trend, with the cryptocurrency trading at $1948.16 as of the current date.

Technical analysis suggests that Ethereum USD may be approaching an oversold condition, which could lead to a potential bounce in the near future. The Relative Strength Index (RSI) reading of 28.53 indicates that the market is oversold, and historically, such conditions have often preceded bounces.

The Moving Average Convergence Divergence (MACD) shows bearish momentum, but with a small positive histogram that could signal early reversal potential. The Average Directional Index (ADX) measures trend strength at 47.96, confirming that the downtrend remains intact.

Support levels cluster around $1905.12 and $1459.03, while resistance sits at $2196.56 and $2616.67. Traders are closely monitoring these zones for potential reversal signals, including RSI divergences or MACD histogram turning positive.