Ethereum price analysis (Bullish) — 4429.43 USDT (-0.53% 24h)

Ethereum is showing signs of potential reversal as it trades at $4,429, down just 0.53% over the past 24 hours despite significant selling pressure. The RSI reading of 28 indicates extreme oversold conditions, typically preceding a bullish reversal when combined with current price action. ETH is trading below both its 20-day SMA ($4,481) and 50-day SMA ($4,516), suggesting short-term bearish momentum, but the proximity to these key moving averages creates a critical decision point for traders. The $4,400 level appears to be providing solid support, while volume remains robust at $1.87 billion, indicating institutional interest at these levels. Traders should watch for a break above $4,500 with conviction for confirmation of upward momentum. Consider scaling into long positions with tight stops below $4,350, targeting initial resistance at $4,600. The current volatility of 2.57% presents attractive risk-reward opportunities for swing traders.