Forecast update for Ethereum -05-11-2026

Brent crude oil made a cautious advance in its latest intraday trading, following an earlier break below a main bearish trend line on the short-term timeframe, which brought a steeply descending corrective wave into dominance. Negative pressure also continues to stem from trading below the EMA50, intensifying the bearish pressure.

Bitcoin (BTCUSD) fluctuated in its latest intraday movements, as the price attempts to take profits on its previous gains and unwind its overbought conditions on the relative strength indicators, particularly amid the emergence of negative signals from them. This may allow the price to gather fresh positive momentum that could help it recover and resume its strong gains, supported by continued trading above the EMA50, which provides positive momentum. The price is also benefiting from a positive technical formation that developed on the short-term timeframe, namely a double bottom pattern.

Crude oil rose in its latest intraday trading after the pivotal support level at $86.40 held firm, providing some positive momentum that helped it achieve these gains. The price is attempting to recover part of its previous losses while unwinding some of its clearly oversold conditions on the relative strength indicators, particularly as negative signals have started emerging from them. This comes amid the dominance of a steeply descending minor wave in the short term.