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Everyone is calling this the bottom because ETH monthly RSI is supposedly at the most oversold level in history.
Seriously?
The monthly RSI on $ETH has never actually entered the oversold zone before.
A market is considered oversold when RSI reaches 30 or lower - and so far, that has not happened.
Since 2017, ETH RSI has been forming lower highs and lower lows, which fits well inside a descending parallel channel.
In my view, ETH monthly RSI will reach the oversold zone for the first time in history in the second half of 2026.
That could happen right as RSI touches the lower boundary of the descending channel.
After that final capitulation, $ETH could begin a multi-year uptrend. 📈
Bullish trigger: a breakout above MA21.