Ethereum price analysis (Bullish) — 4009.87 USDT (-3.95% 24h)

Ethereum is showing significant technical weakness as ETH/USDT trades at $4,009, down nearly 4% in the past 24 hours. The current price sits below both the 20-day SMA ($4,169) and 50-day SMA ($4,097), indicating strong bearish momentum. Most notably, the RSI reading of 20.58 signals severely oversold conditions – levels not seen since major market bottoms. While the high volatility of 4.86% suggests continued price swings, the combination of oversold RSI and substantial trading volume ($2.8B) could indicate capitulation. Traders should watch for potential reversal patterns around the $4,000 psychological support. Aggressive traders might consider scaling into long positions with tight stops below $3,950, while conservative investors should wait for RSI recovery above 30 and a break above the 20-day SMA before entering.