Ethereum’s Oversold Crossover Signals Potential for Further Gains

Ethereum is showing signs of renewed buying interest, with its oversold crossover indicator reappearing on the 2-week chart. Traders are watching this historical pattern closely for potential breakout signals and price surges. The past three occurrences of this crossover led to significant rallies, each surpassing 100% gains over multi-week charts. Currently, Ethereum trades above support near $1,765 but faces resistance near the $2,400 level. While the current market structure resembles a bear flag, a successful breakout above resistance could signal continued growth for ETH.