Ethereum, despite its recent woes, has the potential to rise to as high as $6800 according to a recent RSI analysis by an influencer on X (formerly Twitter). The second-largest cryptocurrency by market capitalization is currently trading right around the $3100 price level as the bulls try to chalk out a new strategy going into 2026. Ethereum has also enacted the latest Fusaka upgrade on its blockchain, a bold new initiative for scaling the legacy decentralized network.
Ethereum to Appreciate to $4300, Potential to Reach $6800
Skyodelic, the analyst in question, has recently been upbeat about Ethereum because of a bullish trend emerging from deep within the current bearish setup. He tweeted:
“$ETH looks ready to push much higher
In the last 5 years every single time the 1D RSI has gone from overbought, down to oversold, and then broken the trend(green circle)…
It has pumped a minimum of 45%.
That takes us to $4,300.
That is just the minimum, worst case scenario this is a bear market etc
The average is 111%…. Which would take us to $6,800.
Basically, whenever $ETH goes from overbought to oversold, and the breaks the downtrend…
It’s pushes very nicely.
Only one out of those 5 scenarios did $ETH double bottom after the break of trend… the other 4 times the bottom was in.
It broke that downtrend today quite convincingly.”
The tweet ended with graph:
Image Source: XThe analyst has identified key RSI trends from the last 3.5 years that predict a major price rebound is on its way. The focus is on the decisive breakout from the downward oversold territory that has dominated the market since the October 11 crash, forcing the larger crypto market on its back foot.
Ethereum, as the graph indicates, has massive upside potential because of its successful rebound from lower RSI levels, which showed the digital currency was struggling in deep bearish territory below 30, hardly a week ago. Now, the situation has changed somewhat with the RSI recovering to 50 and the index feeling relatively safe around the $3.1k valuation.
A textbook reaction to this pattern would result in the premier programmable cryptocurrency rising to $4.3k, a figure which has been attributed as the “minimum worst case scenario”. In the best-case scenario, ETH could rise to $6800, representing a 111% price appreciation from current levels, as we see a clear shift from oversold to neutral RSI.
The Future
The future is tricky to predict, but in this case, the changeover from the oversold to neutral RSI territory is an important one that cannot be ignored by traders however, if we have already kick-started the next iteration of the bear market, which some analysts fear, low RSI levels mean nothing, as in such a scenario, the cryptocurrency can remain in oversold territory for long periods of time.
The remaining days of December will be crucial in determining the future course of action for Ethereum.
Source: https://zycrypto.com/ethereums-3100-base-could-launch-rally-to-6800-based-on-5-year-rsi-trend-analysis/
