Ethereum’s price shows minor decline but seeks upward momentum; Bitcoin stabilises after fluctuating trade; crude oil declines at EMA50 resistance; Gold rises after bouncing from support level.
Ethereum (ETHUSD) experienced a slight decline in its latest intraday trading, influenced by negative indicators from the Relative Strength Index (RSI) following an overbought period. Currently, ETHUSD is aiming to gain positive momentum that could help breach the significant resistance level at $1,636, while simultaneously fighting against a minor bearish trend in the short term. This potential upward movement is underpinned by sustained positive support from trading above the EMA50.
Bitcoin (BTCUSD), after a minor rise in recent intraday trading, has been settled amidst fluctuating trade attempting to penetrate the substantial resistance at $84,500. The market is experiencing a bullish corrective trend in the short term, indicated by encouraging signals on the RSI, which support the possibility of further price gains.
Crude oil is facing a decline in its latest trading sessions, encountering resistance at the EMA50. This downturn is compounded by negative signals from the RSI after reaching overbought levels, signalling a potential decline in price momentum moving forward.
Conversely, Gold has risen in its recent intraday trading, recovering after testing the support level at $3,200. This upward movement marks a gain in positive momentum, particularly since the RSI indicated oversold conditions compared to the current price action. This trend aligns with the prevailing bullish market sentiment in the short term.
