Etsy Inc. (ETSY) turned green in its latest trading session, benefiting from its earlier rebound off a main ascending trendline on the short-term chart. This move coincided with the start of positive signals on the relative strength indicators after reaching extremely oversold levels, which provided fresh positive momentum that helped the stock achieve a series of strong gains. However, downside pressure remains from trading below the 50-day simple moving average, which continues to act as an obstacle to a sustainable recovery.

Therefore, we expect the stock price to rise in its upcoming trading sessions, provided that the support level of $56.65 holds, targeting the first resistance level at $69.55.

Today’s price forecast: Bullish.

The price of (ETHUSD) rose in its last intraday trading, recovering some of yesterday’s losses, affected by its leaning on the support of EMA50, which stopped the losses to begin new recovery alongside bullish corrective trend line on the short-term basis, with the emergence of positive signals on the relative strength indicators after reaching oversold levels.

Bitcoin (BTCUSD) prices witnessed a sudden rebound on their last intraday levels, keeping the bullish corrective track on the short-term basis with its trading alongside supportive trendline, taking advantage of the positive pressure that comes from its trading above EMA50, the emergence of the positive signals helped the price to reinforce its gains on the relative strength indicators, after forming positive divergence after reaching oversold levels, exaggeratedly compared to the price move.

Brent crude oil prices declined in their last intraday trading, due to the stability of the key resistance at %65.00, to gain bullish momentum that might help it to breach this resistance, and attempt to offload its overbought conditions on the relative strength indicators, amid the continuation of the positive pressure that comes from its trading above EMA50, affected by positive technical formation that has formed on the short-term basis (the falling wedge pattern).