The cryptocurrency market experienced a mixed day with some assets showing signs of recovery, while others declined slightly.
Ethereum (ETHUSD) price corrected temporarily, reaching heavily overbought levels according to relative strength indicators. The price is now seeking to form a rising base that could help it regain the positive momentum needed for recovery.
However, the main short-term uptrend remains intact due to support from trading above EMA50.
In contrast, Brent crude oil recouped some of its losses after reaching heavily oversold levels. The price was supported by positive signals from relative strength indicators, despite being affected earlier by a short-term ascending trendline breakout and negative pressure from trading below EMA50.
USDCHF and NZDUSD also showed signs of recovery, attempting to recover part of their previous losses. Both pairs managed to ease their oversold condition in the relative strength indicators, with positive signals emerging despite continuing negative pressure from trading below EMA50.