Matrixport: Ethereum RSI has fallen to a historical low, and the Pectra upgrade may drive ETH prices to rebound

Odaily News Matrixport released today's chart, saying that Ethereum's relative strength index (RSI) has fallen to a historical low, close to the extreme oversold range. This usually means that after the recent sharp correction, ETH prices may have the conditions to rebound.
In addition, Ethereum's highly anticipated Pectra upgrade is scheduled to be launched in March 2025, which is expected to significantly improve the network's scalability, efficiency, and user experience. This upgrade will merge the original Prague and Electra versions to create a more powerful technical update.
Before the upgrade is officially launched in March, the market is expected to release multiple testnet announcements, which may become a positive factor in driving market sentiment. Although Ethereum's past upgrade events are often accompanied by "sell news" market conditions, in the current oversold context, this upgrade may create an opportunity for ETH prices to rebound.