The latest Ethereum price crash did just that pushed the cryptocurrency below $1,800, putting pressure on the monthly chart at a time when the entire sentiment in the crypto market has turned heavily bearish. There is also another weakness coming from the monthly RSI, which has now fallen to its lowest level since the asset’s launch in 2015.
That reading has made the current setup very important, as previous deep RSI resets in 2020 and 2022 appeared near key Ethereum cycle lows, and it is also questionable whether the same pattern will form again.
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RSI reaches its lowest level since the launch of Ethereum
Ethereum has endured nine brutal months since peaking at $4,946 in August 2025. The relentless price action has culminated in a break below $1,800 in June, with the leading altcoin falling to $1,536 in the past 24 hours, which is the lowest price level yet in 2026.
Interestingly enough, that crash has caused The monthly Relative Strength Index (RSI) on ETH/USD prints the lowest value since Ethereum launched in 2015. The monthly RSI indicator chart shows the index falling to around 40, the lowest monthly level since ETH began trading in 2015.
Ethereum price chart. Source: @CryptoPatel on X
What does this mean for Ethereum?
In 2020, Ethereum’s RSI hit lows before ETH mounted a massive rally from around $88 to its 2021 peak above $4,800. Another deep RSI reset occurred in 2022 before ETH finally rose from around $880 to an all-time high in 2025.
The current setup is no guarantee that this the same rallies will repeat, but it does show that Ethereum is now in the kind of momentum zone that always seems to be closer to the major bottoms than to the cycle tops.
A striking difference this time is the RSI has become even lowermaking the 2026 reading the most extreme in cryptocurrency history. If history repeats itself, the subsequent rally could be even bigger than those in previous cycles.
Technical analysis of the monthly candlestick time frame shows that Ethereum is going through another four-year cycle, similar to the move from the 2017 high to the 2021 high. As shown in the chart above, the 2017 cycle peak is the first major top, the 2021 peak is the next major cycle high, and then there is a projection of a possible tops out around $10,000 sometime in 2026-2027.
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At the time of writing, Ethereum is trading at $1,612, making bulls with the immediate task of defending the $1,600 region with stronger inflows. Speaking of inflows, Spot Ethereum ETFs ended a 17-day period strip of outflow on Thursday, June 4, after net inflows of $19 million. That relief was short-lived, however, as Friday’s session returned to negative territory with net outflows of $5.97 million.
Featured image from Unsplash, chart from TradingView
Credit : www.newsbtc.com
