Ethereum recorded modest gains during its latest intraday trading sessions, in what appears to be a weak attempt by the price to recover part of its previous losses. This comes amid the dominance of a short-term corrective bearish trend, with price movements continuing alongside a downward sloping trendline.

Negative pressure also remains in place as Ethereum continues trading below EMA50, which limits the chances of a strong recovery in the near term, especially with continued negative signals coming from the relative strength indicators.