Ethereum (ETHUSD) continues to trade in a volatile range as it attempts to ease overbought conditions on the relative strength indicators, which have begun to generate negative signals. At the same time, the price remains supported by trading above the EMA50, providing positive momentum that could help extend the short-term corrective uptrend if current resistance levels are broken, despite this support, the dominant trend remains bearish.
Therefore, as long as the $1,700 resistance level holds, our outlook leans toward a decline in Ethereum during upcoming intraday sessions, with the next downside target at $1,600.
Brent crude oil extended its losses during recent intraday trading, breaking below the $86.60 support level, which had been one of our previous downside targets. The price remains under persistent negative pressure from trading below the EMA50, reinforcing the dominant short-term bearish trend.
At the same time, relative strength indicators have started to generate positive signals after reaching deeply oversold levels. This could help the market stabilize and pause briefly before potentially resuming its downward move.
Bitcoin (BTCUSD) is trading in a volatile range as it attempts to build enough positive momentum to break above the key resistance level at $64,000. At the same time, the cryptocurrency is trying to ease its overbought conditions, with relative strength indicators beginning to generate negative signals.
Despite this, the price continues to receive support from trading above the EMA50, which strengthens the chances of further gains in the near term. Bitcoin is also moving along a short-term corrective bullish trendline.
Crude Oil continued to decline in recent intraday trading, reaching the key support level of $82.00, which represented our previous downside target. The short-term trend remains bearish, supported by a descending trendline and ongoing pressure from trading below the EMA50.
However, relative strength indicators have begun to show a bullish crossover after reaching deeply oversold levels, a signal that may help limit further losses in the near term.