Ethereum Price News: RSI Signals Cycle Bottom for ETH and Favors $6K Target

Ethereum (ETH) has been finding support at the $1,900 level lately, and it has risen by 2% in the past 24 hours after bouncing off this level once again.

Tensions in the Middle East have somehow helped cryptocurrencies stay afloat as the selling pressure seems to have eased.

Trading volumes remain quite high at $20 billion, accounting for nearly 9% of the token’s circulating market cap.

Since the year started, ETH has booked a 33% loss, outpacing BTC’s retreat by more than 10%.

Market sentiment remains heavily depressed but has improved lately, as the Fear and Greed Index stepped out of a record low of 5 to 19 at the time of writing.

Depressed Weekly RSI Could Anticipate a Strong Recovery Ahead For ETH

Meanwhile, a high time frame (HFT) momentum indicator seems to suggest that we could have hit a cycle bottom already, and could be anticipating Ethereum’s next rally toward new all-time highs.

According to the weekly chart, the Relative Strength Index (RSI) recently hit its lowest level since March 2025 at around 30, and seems to be making a U-turn as the price of ETH has found strong support at $1,800.

Historically, there have been three other instances in which the RSI has either touched or dipped below this mark in the past 8 years.

High-time frame signals like these tend to be much more reliable than hourly signals like the ones we usually track for our swing and scalping trades. However, their results unfold over much longer periods as well.

Potential 250% Gain on the Cards If Historical Patterns Repeat

Back in 2018, when the RSI hit a low of 28, the price of ETH started to recover from just $83 to as much as $4,700 in just 3 years. This was, obviously, a once in a lifetime opportunity at a point when mainstream adoption was relatively weak.

Meanwhile, the same signal popped up in June 2022 as the market was collapsing due to a “perfect storm” of high-profile collapses like Three Arrows Capital, FTX, and Terra’s Luna token and UST stablecoin.

Back then, ETH bottomed at around $1,000, and went on to rise to 3,900 nearly two years later. Finally, the December 2024 – April 2025 bear market was the last instance in which the RSI hit these lows.

Last year, we saw ETH bottoming at around $1,400, to then rally toward a new all-time high of nearly $5,000. This was the fastest recovery of all, underscoring the market’s stronger interest in cryptos compared to previous cycles.

In all of these instances, the subsequent rallies have delivered significant gains to those who buy near the bottom. Right now, the signal is there once again. The RSI is hovering above 30, and the price seems to have been making a strong floor at $1,800.

Perhaps we will not get another 5,800% gain as we did back during the 2018 – 2021 cycle, but historical patterns suggest a 250% jump could be on the cards. This would mean a price target of $6,400 at least if the $1.9K turns out to be the cycle’s bottom.