Matrixport: Ethereum RSI index fell to a historical low, and network upgrades may boost price rebounds in the context of oversold conditions

on February 11th, Matrixport released a chart today showing that Ethereum's relative strength index (RSI) has fallen to a historical low, approaching an extreme oversold zone. This usually means that after experiencing a recent sharp decline, ETH prices may have rebound conditions.

In addition, Ethereum's Pectra upgrade plan is scheduled to be launched in March 2025, which is expected to significantly improve the network's scalability, efficiency, and user experience. This upgrade will merge the previously planned Prague and Electra versions to create more powerful technological updates.

Before the official launch of the upgrade in March, it is expected that multiple test network announcements will be released, which may become a positive factor to boost market sentiment. Although Ethereum's past upgrade events have often been accompanied by "sell-off news" market trends, in the current oversold background, this upgrade may create an opportunity for ETH prices to rebound.