Analysis: ETH is Severely Oversold, $1070-$1370 Zone May Be a Heavy Buying Opportunity

Odaily reported that crypto KOL nobrainflip stated on X platform, planning to heavily buy ETH in the $1070 to $1370 range and believing that the downside for ETH price is limited. He pointed out that while the market generally expects ETH to underperform BTC in the future, ETH is actually in a "severely oversold" state, thus choosing to trade against the market.

Currently, the ETH/BTC exchange rate has fallen to extremely low levels, with the market treating ETH as an "ordinary altcoin." However, both ETH and BTC are two major blue-chip assets in the crypto market: both have fully diluted supplies, face no internal unlock pressure, and have been validated by the market for over 10 years. The biggest difference between the two lies in asset holding yields. BTC itself generates no yield, but the majority of ETH can generate yield through staking.

Nevertheless, nobrainflip clarified that he is not bearish on BTC and continues to hold both BTC and ETH. He simply believes that ETH, currently abandoned by the market, may be a more cost-effective asset. His trading plan is: buy ETH in batches within the $1370 to $1070 range, complete most of the position allocation near $1070, and set a stop-loss if the price drops below $800.