<ul><li>Ethereum, the world's second-largest cryptocurrency, has fallen more than 5% and is struggling to hold above $2,000.</li><li>Technical signals indicate oversold conditions and historical precedent suggests a potential market rebound.</li><li>The weekly relative strength index (RSI) has dropped below 30, a level not seen since the bear market bottoms of 2018 and 2022.</li><li>On-chain data and technical indicators suggest Ethereum may approach a bottom and potentially rebound towards the $6,500 to $7,000 range.</li></ul>

Ethereum drops 5% but signals rebound toward $7,000

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