Ethereum Tries to Recover with Key Support at $1,840

Ethereum (ETHUSD) is struggling to regain its footing after a series of consecutive losses in intraday trading. The cryptocurrency is attempting to establish a higher low as a base for a potential bullish momentum recovery.

Currently, Ethereum is leaning on key support at $1,840, which it has managed to hold due to its trading above the EMA50. This dynamic support reinforces the stability and dominance of the main bullish trend on the short-term basis.

The relative strength indicators have emerged with a positive crossover after reaching exaggerated oversold levels compared to price action, suggesting the formation of a positive divergence.