Ethereum Price Struggles to Maintain Consecutive Gains

The Ethereum price is clinging to consecutive gains in its latest intraday trading, bolstered by the stability of its key $2,400 support level.

This support is providing positive momentum as it attempts to recover some of its previous losses.

However, the price continues to face negative pressure from trading below its EMA50, threatening a bearish reversal in the near term.

Negative signals are emerging from the relative strength indicators after forming a bearish divergence following their move into extremely overbought territory.