Ethereum Price Sits at Record Oversold Levels Amid Cycle Bottom Debate

Ethereum's price has entered historic oversold territory, sparking debate among traders about whether it represents a cycle bottom or further downside.

According to Ash Crypto data, Ethereum had fallen approximately 70% from its record peak, with the monthly Relative Strength Index reaching a deeper oversold level than those recorded during the 2018 and 2022 bear market lows.

Daan Crypto Trades argued that valuation metrics appeared more attractive for investors with multi-year horizons, despite Ethereum's weak trend, while Ali Charts identified a major downside scenario through a long-term channel structure.