[guided]Assume $\rho(E)=-1$. After multiplying one product chart by $-1$ if necessary, we may arrange the signs as
\begin{align*}
\varepsilon_+=+1,\qquad \varepsilon_-=-1.
\end{align*}
Define the locally constant sign function
\begin{align*}
s:U_0\cap U_1&\to\{\pm1\}
\end{align*}
by $s(x)=+1$ for $x\in V_+$ and $s(x)=-1$ for $x\in V_-$. Define
\begin{align*}
h:U_0\cap U_1&\to(0,\infty)
\end{align*}
by $h(x)=s(x)g(x)$. This function is continuous because $s$ is constant on each connected component of $U_0\cap U_1$ and the sign of $g$ agrees with $s$ on each component.
Since $h$ is positive, define
\begin{align*}
\ell:U_0\cap U_1&\to\mathbb{R}
\end{align*}
by $\ell(x)=\log h(x)$. Choose a continuous partition of unity $\varphi_0,\varphi_1:S^1\to[0,1]$ subordinate to $\{U_0,U_1\}$, with $\operatorname{supp}(\varphi_i)\subset U_i$ and $\varphi_0+\varphi_1=1$. Define continuous functions $b_0:U_0\to\mathbb{R}$ and $b_1:U_1\to\mathbb{R}$ by $b_0(x)=\varphi_1(x)\ell(x)$ and $b_1(x)=-\varphi_0(x)\ell(x)$ on $U_0\cap U_1$, and by $0$ away from the overlap. These extensions are continuous because the relevant supports lie inside the corresponding open sets. On $U_0\cap U_1$,
\begin{align*}
b_1(x)-b_0(x)=-(\varphi_0(x)+\varphi_1(x))\ell(x)=-\ell(x).
\end{align*}
Define positive functions $a_i:U_i\to(0,\infty)$ by $a_i(x)=e^{b_i(x)}$. Then
\begin{align*}
a_1(x)h(x)a_0(x)^{-1}=e^{b_1(x)}e^{\ell(x)}e^{-b_0(x)}=1
\end{align*}
for $x\in U_0\cap U_1$. Since $g(x)=s(x)h(x)$, the changed transition function is
\begin{align*}
g'(x)=a_1(x)g(x)a_0(x)^{-1}=s(x).
\end{align*}
Thus $E$ is isomorphic to the two-overlap gluing model whose transition is $+1$ on $V_+$ and $-1$ on $V_-$.
It remains to identify this gluing model with the usual Möbius line bundle. View $S^1$ as $[0,1]/(0\sim1)$, choose $U_0$ around the image of $[0,1/2]$, and choose $U_1$ around the image of $[1/2,1]$. The overlap has one component near $1/2$ and one component near the identified endpoint $0\sim1$. In
\begin{align*}
M:=([0,1]\times\mathbb{R})/((0,t)\sim(1,-t)),
\end{align*}
the product charts over these two arcs are inherited from the product over subintervals of $[0,1]$. Near $1/2$, the two charts use the same representative and hence have transition $+1$. Near $0\sim1$, the passage from the representative at $0$ to the representative at $1$ uses $(0,t)\sim(1,-t)$ and hence has transition $-1$. Therefore the two-overlap gluing model with signs $+1$ and $-1$ is precisely the Möbius line bundle up to bundle isomorphism.[/guided]