Ethereum (ETHUSD) extended its gains during the latest intraday trading, supported by a short-term bullish corrective wave. The cryptocurrency continues to trade above EMA50, which provides a solid support base and enhances the likelihood of further gains in the near term. This bullish outlook is further reinforced by a renewed positive crossover in the relative strength indicators after offloading some of its overbought conditions.

Brent crude oil remains under pressure, extending its recent consecutive series of losses in intraday trading, as the main short-term bearish trend continues to dominate. Selling pressure remains dominant despite limited attempts by the price to stabilize.

The price continues to trade below EMA50, which represents a dynamic resistance, reinforcing the bearish trend and limiting the chances of a recovery. Meanwhile, relative strength indicators began to show a positive crossover after reaching deeply oversold levels. This could help slow down the pace of losses or trigger a limited corrective rebound. However, the overall technical outlook remains bearish unless Brent breaches key technical resistance levels.

The price of Bitcoin rose in its recent intraday trading, recovering its early losses for today, to attack the key resistance level at $61,000, supported by its trading above EMA50, providing support base that reinforces the chances of extending these gains, despite the emergence of negative signals from the relative strength indicators after reaching overbought levels, which didn’t threaten the price, as a strong signal for the strength of the surrounding momentum.

Crude Oil kept declining in its last intraday trading, amid the dominance of the main bearish trend on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, which represents a dynamic resistance that reduces the chances of sustainable recovery in the near period, on the other hand, we notice the beginning of positive signals emergence on the relative strength indicators, after reaching oversold levels, which might reduce the losses.