Ethereum’s daily chart is showing a classic bullish divergence: the price is still falling, but the Relative Strength Index (RSI) is climbing, a pattern that often precedes a short‑term bounce. While the longer‑term outlook remains bearish, this divergence hints that the relentless selling may be losing steam after weeks of decline.
At the moment ETH trades near $1,571, a little more than 2 % lower than 24 hours ago, and Bitcoin is also slipping, down roughly 1.9 %. The broader crypto market is entrenched in “Extreme Fear” according to the Fear & Greed index, a condition that historically can set the stage for a reversal—or at least a temporary pause in the downtrend.
On‑chain data adds nuance to the picture. Large addresses linked to Vitalik Buterin have shifted 7,000 ETH to a fresh wallet, and whales have collectively sold close to $900 million worth of ETH. Meanwhile, Ethereum‑focused ETFs have seen outflows of about $12.85 million, underscoring the pressure on the bullish side. These moves suggest that any upside from the RSI divergence could be constrained by continued institutional selling.
For retail readers, the key question is whether the divergence signals a genuine shift in momentum or merely a brief lull before the next leg down. Monitoring price action around the next technical support level, alongside volume spikes and on‑chain whale activity, will help gauge whether the bearish pressure is truly easing or if the market’s fear will keep driving ETH lower.