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ETH / USD long-term trend: bearish
- Resistance levels: $ 350, $ 370, $ 390
- Support levels: $ 90, $ 70, $ 60
The ETH / USD pair is in a linear downward trend unlike the price of Bitcoin, which was partly horizontal in the price movement. From the 1 hour chart, the price of Ethereum had already dropped to $ 85.54, but returned to a maximum of $ 92. This does not imply that the downtrend of Ethereum has been reversed or exhausted. From price action, the price of the crypto is lower than the 12-day EMA and the 26-day EMA which indicates that there is a downward trend.
The MACD line and the signal line are below the zero line indicating a sales signal. The stochastic indicator fell below the 20% range. This means that Ethereum has a strong downward impulse and the price of the crypto will remain bearish. The crypt is likely to continue its downward trend.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research
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