Ethereum's price has reached its expected target of $1,935, as per our previous analysis. The cryptocurrency declined in its latest intraday levels due to the stability of this resistance level. However, it is attempting to offload some of its overbought conditions on relative strength indicators, especially with the emergence of negative signals from them.
The dynamic support represented by Ethereum's trading above EMA50 reinforces the stability and dominance of the main bullish trend on the short-term basis. This suggests that Ethereum may continue to rise in the near future.