The cryptocurrency market and the oil sector have seen significant price movements in recent hours.
Ethereum's (ETHUSD) price rose due to its continued support from a bullish trend line, which is reinforced by its stability above the Exponential Moving Average (EMA50). This has led to an increased likelihood of further price gains.
However, overbought conditions on relative strength indicators have been alleviated, paving the way for potential growth in the near term.