PANews reported on February 11 that Matrixport reported today that Ethereum's relative strength index (RSI) has fallen to a historical low, close to the extreme oversold range, which may provide conditions for ETH prices to rebound. In addition, Ethereum's highly anticipated Pectra upgrade is scheduled to be launched in March 2025. This upgrade integrates the original Prague and Electra versions and is expected to significantly improve the network's scalability, efficiency and user experience.

The report also mentioned that the market may release multiple testnet announcements before the upgrade is officially launched in March, which may further boost market sentiment. Although Ethereum's upgrade events in history are often accompanied by "sell news" market conditions, the current oversold market background may create opportunities for ETH prices to rebound.