Ethereum (ETHUSD) maintained a series of sharp losses in its latest intraday trading, breaking below the $2,250 support level, which was a price target in our earlier analysis. This comes amid negative signals emerging from the relative strength indicators after the price managed to offload its oversold conditions, leaving room for further losses in the near term.
This comes amid the dominance of the main short-term downtrend, with the price moving alongside a trend line supporting this bearish path, in addition to continued negative pressure from trading below EMA50, which limits the chances of a price recovery.
Thanks for your feedback.
Brent crude oil maintained a series of consecutive gains in its latest intraday trading, as the price continues its attempts to challenge the pivotal and stubborn resistance level of $113.00. This is driven by the dominance of the main short-term uptrend, with the price moving alongside a minor trend line supporting this trajectory. Positive pressure also persists as the price trades above EMA50, reinforcing the chances of further gains in the near term.
MoreThe USDCHF pair maintained a series of consecutive losses in its latest intraday trading, amid continued negative pressure from trading below EMA50. The pair has now reached a key rising trend line support on the short-term basis, gaining some positive momentum that was further reinforced by the emergence of a positive crossover in the relative strength indicators after reaching deeply oversold territory, helping the pair withstand the surrounding negative pressures, at least temporarily.
MoreThe NZDUSD pair rose in its latest intraday trading, driven by positive signals from the relative strength indicators, as it attempts to recover part of its previous losses.
More