Ethereum’s RSI has dropped to 36, its first oversold reading since ETH traded near $1.4K, a setup that last time preceded a rebound within weeks. The Tradable notes this “typically indicates oversold conditions and potential for a short term rebound,” but confirmation from volume and follow-through buying is still needed. On-chain, large addresses have withdrawn significant amounts of ETH while price hovers near $4.040 and key levels cluster around $4.000 and $4.180.
The ongoing path of Ethereum
RSI at 36 marks an oversold signal with historical precedent for recovery, echoing the last time ETH was near $1.4K when price rebounded within weeks. The Tradable underscores that while the level often precedes short-term bounces, confirmation via volume and sustained follow-through buying remains essential.
Key levels: $4.000 support, $4.180 resistance, and a $3.850 – $3.900 downside zone. ETH now trades near $4.040; a daily close above $4.180 would restore the short term uptrend, while a break below $4.000 would expose the lower cluster.
Large addresses are moving coins off exchanges, with fifteen wallets receiving 406.117 ETH over the past forty eight hours. Lookonchain tracked transfers originating from Kraken, Galaxy Digital, BitGo and FalconX, a pattern that usually signals accumulation by institutions or whales.
Exchanges recorded a $159.5 million net outflow of ETH on 25 September, according to Traders Union. Persistent withdrawals shrink the tradable float, yet price has continued sliding, indicating that sellers remain active.
Key figures: 406.117 ETH accumulated, $159.5 million net exchange outflow, RSI at 36, price pivot at $4.000, resistance at $4.180.
The next operational checkpoint is either a successful defence of $4.000 or a confirmed daily close above $4.180. ETF flow data and continued whale behaviour will shape the direction over the coming days and weeks.
