Ethereum (ETHUSD) experienced volatile intraday trading at its recent levels, as the price found support at EMA50 while testing a short-term minor ascending trend line. This provided some positive momentum, helping to halt the losses seen in yesterdays session.

This recovery is further supported by the emergence of a positive divergence on the relative strength indicators, which reached heavily oversold levels, exaggerated compared to price action. This increases the likelihood of cautious rebounds in the near term.