Ethereum (ETHUSD) experienced a modest decline in recent intraday trading as it approached resistance at the 50-day Exponential Moving Average (EMA50). However, the digital asset is showing signs of regaining bullish strength, supported by key technical indicators.
The slight downturn appears to be a response to short-term resistance pressures, yet the broader technical structure remains bullish. Ethereum continues to trade along an upward trendline on the short-term chart, reinforcing the dominance of its primary bullish trajectory.
Notably, the Relative Strength Index (RSI) is flashing early signs of recovery after entering oversold territory, indicating a potential shift toward renewed buying interest. These positive signals could pave the way for Ethereum to overcome current resistance and resume its upward momentum.
Market analysts are closely watching for a confirmed breakout above the EMA50, which could validate further gains in the coming sessions.
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