Ethereum nearly reached the 3,000 USD mark, dropping to 3,053 USD before recovering. This decline has shocked the market, triggering liquidations and panic selling. However, after several weeks of continuous decline, initial signs of a recovery have finally started to appear.

Despite a 27% decrease in the past month and 8.4% in the last 24 hours, both technical data and blockchain indicators now suggest that Ethereum may have formed a dynamic local bottom as the price movement slows down $ETH .

The price volatility of $ETH over the past few weeks indicates that the downward momentum is slowing.

On the 12-hour chart, Ethereum's RSI, an indicator that measures price momentum to indicate whether an asset is overbought or oversold, has begun to form higher lows, even though the price has created lower lows from September 25, 2025, to November 4, 2025.