Ethereum and Bitcoin RSIs Sink to Historic Lows as Crypto Market Turns Extremely Oversold

The relative strength index, or RSI, measures an asset’s recent price momentum, with readings below 30 generally considered oversold. Ethereum and Bitcoin have both fallen into extreme territory, reflecting mounting selling pressure and panic in the crypto market. Similar lows have often coincided with technical rebounds in the past, but they do not necessarily signal that the decline is over.

The latest data showed Ethereum’s RSI falling to 13.29, its lowest level in Binance’s recorded history. It was even more oversold than on October 11, the day of a major market plunge. Bitcoin’s RSI also sank to an extreme low. With both leading assets flashing unusually weak signals at the same time, markets are watching whether a near-term rebound can take shape and whether the selloff will continue.