Ethereum price analysis (Neutral) — 2824.88 USDT (-5.75% 24h)

Ethereum is experiencing a significant technical oversold condition, with its RSI plunging to an extreme 11.43 – a level rarely seen and typically indicative of a potential exhaustion move. The current price of $2,824.88 sits below both the 20-day SMA ($2,951.19) and 50-day SMA ($2,979.60), confirming a bearish short-to-medium-term structure. However, the extreme RSI reading, coupled with elevated volatility of 3.59%, suggests capitulation may be nearing a climax. The substantial 24-hour volume of over $1.16 billion on a -5.75% down day signals intense selling pressure, but also potential institutional accumulation at these levels. For traders, this presents a high-risk, high-reward scenario. Aggressive contrarians might consider scaling into long positions with tight stops below $2,750, targeting a mean reversion bounce toward the $2,950 SMA cluster. More conservative traders should wait for a confirmed bullish reversal pattern and RSI recovery above 30 before entering. Risk management is paramount given the elevated volatility.