The analyst suggests accumulating Ethereum at current levels due to favorable risk/reward, noting support at a 6-year level and technical indicators like weekly RSI at 30.
Ethereum is at a 6-year support level, 50% gain needed to reach 200WMA, weekly RSI at 30; historically price bounces higher under these conditions, so accumulating makes sense despite uncertainty about reversal confirmation.
$ETH - On the 6 year support level - 50% gain to get back to its 200WMA - RSI on the WEEKLY is 30 Still to early to say that the reversal is on here or support is confirmed But in terms of risk v reward Accumulating here makes sense
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | +5.5% | +4.6% |
| 1 week | +2.8% | +1.9% |
| 1 month | — | — |
| 3 months | — | — |
| 6 months | — | — |