Ethereum's Consecutive Gains May Be Short-Lived Amid Overbought Conditions

Ethereum prices have seen a series of consecutive gains in its latest intraday levels, attempting to build on previous rises and offload some overbought conditions.

The main bullish trend dominates the short-term basis, with ETHUSD trading alongside a supportive trend line for this path, as well as continued positive support due to trading above EMA50.

However, negative overlapping signals from relative strength indicators suggest that Ethereum may be overextended, increasing the likelihood of a pullback in the near upcoming period.