The global cryptocurrency market shed over the weekend $300 billion in value, plunging from $2.75 trillion to as low as $2.35 trillion following the announcement of President Donald Trump’s sweeping global tariffs.
Bitcoin (BTC) has dropped below $80,000, as investor sentiment continues to sour amid intensifying global trade tensions. The decline mirrors the broader market selloff, with U.S. equities experiencing their worst trading session since the COVID-19 crash in 2020.
Amid this widespread downturn, investors are actively searching for signs of a bottom, and potential buying opportunities.
On April 7, Finbold turned to 12-hour Relative Strength Index (RSI) data from CoinGlass, a popular timeframe for identifying short-term trading setups. With the average RSI across the crypto market sitting at 33.50, signaling weakening momentum and nearing oversold territory, a few assets stand out as candidates for a rebound.
Among them, Ethereum (ETH) and Jito (JTO) are showing early signs of recovery.
Ethereum (ETH)
Ethereum is showing early signs of a potential recovery after slipping into oversold conditions. The second-largest cryptocurrency is currently trading at $1,543.59, with its 12-hour RSI falling to 27.5, well below the average of 33.50.
The 24-hour RSI is even lower at 27.01, signaling sustained selling pressure and hinting that a short-term bottom may be forming.
This comes as Ethereum continues to trade below all major moving averages, showing a persistent bearish trend. However, the confluence of oversold signals across multiple timeframes suggests that the asset could be nearing a technical floor.
Historically, such RSI levels have preceded relief rallies, drawing interest from traders seeking a low-risk entry point.
Over the past 12 hours, ETH has declined 2.36%, adding to its recent slide. Still, with RSI levels firmly in oversold territory, momentum appears to be shifting. If buying interest picks up, Ethereum could be set for a short-term bounce.
Jito (JTO)
JTO is currently trading at $1.5711, showing signs of a potential rebound after entering deeply oversold territory. The token’s 12-hour RSI has dropped to 27.14, well below the average RSI of 33.50, signalling strong selling pressure that may be nearing exhaustion.
Notably, the price has already begun to recover, gaining 1.14% over the past 12 hours, a signal that buyers could be stepping back in. For investors, these conditions suggest a possible short-term bottom, positioning JTO as a candidate for a near-term bounce.
That being said, while oversold RSI levels suggest a potential buying opportunity, RSI alone is not a definitive indicator of a reversal. A sustained recovery will require confirmation through rising trading volume and broader market sentiment.
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