Ethereum Falters Below Key Resistance as Brent Crude Oil Surges

Ethereum's recent intraday levels have seen the cryptocurrency resume its sideways fluctuating moves, still under the influence of the main bullish trend on the short-term basis. The emergence of positive signals from relative strength indicators has been a supportive factor for Ethereum, but the price remains stable below the stubborn key resistance at $2,700.

The negative pressure intensified by moving below EMA50 has prevented Ethereum's recovery, keeping it in a precarious position. This situation is in contrast to Brent crude oil, which surged higher during recent intraday trading and surpassed EMA50's resistance. The positive overlapping signals from the relative strength indicators have opened up more gains for Brent crude oil in the near term.