Technical analysis by ceciliones about Symbol ETH: Buy recommendation (5/8/2025)

Ethereum has dropped 65% since December, hitting its bottom in April —that’s 5 full months in a bear market with a massive drawdown, especially for the second-largest crypto by market cap.Today, it made a strong bounce, rallying over 50% from the grey support zone,confirming that the bottom was likely in.Looking at the RSI, Ethereum has entered the oversold zone only 3 times in the last 5 years —which is another strong indication that a bottom has been reached.So what can we expect from ETH in the coming days?- Ethereum is still close to the bottom, and RSI conditions remain healthy.- Historically, the current RSI level has only occurred three times in five years.Based on this:- This bounce is likely just the beginning of a much bigger move. ETH still has a lot of upside potential.- The next key resistance is around $2,500, which lines up with both the 200 EMA and the 0.618 Fibonacci level — keep an eye on that.- Long-term, Ethereum is on track for a new all-time high (ATH).