Ethereum (ETHUSD) is surrounded by positive pressures -Analysis-02-05-2025

Bitcoin price rose in its recent intraday trading, after reaching our previous target at $97,400, to bounce a little to gather its gains, to succeed in offloading the clear overbought conditions on the (RSI), which provided positive momentum that supported it to rise again preparing to attack the mentioned resistance level.

The gold declined slightly in its recent intraday trading, amid the dominance of the bearish correctional trend on the short-term basis and its trading alongside the bias line, with the continuation of the negative pressure due to its trading below EMA50.

The crude oil price rose sharply in its recent intraday trading, to breach the key resistance level ay $58.75, this level represents a neckline for a positive technical formation on the short term basis, which is the inverted head and shoulders pattern, as appears in the above chart for 60 minute time frame, and it succeeded to surpass the negative pressure on the EMA50, reinforcing the positive momentum, especially, with the emergence of the positive signals on the (RSI).