Price analysis of Ethereum (ETH) – 12 December

Ethereum chart from the view of trading

ETHUSD Medium-term trend: variable

• Resistance levels: $ 230, $ 240, $ 250
• Support levels: $ 70, $ 60, $ 50

The ETHUSD pair has a lateral tendency. On December 6, the ETH price fell to a low of $ 91.97 and continued to be traded in an interval-related movement. This movement related to the interval can only be terminated by a price break. The price of the crypt as shown by the rectangular block is in the bearish trend zone.

This implies that since the ETH price is lower than the 12-day EMA and the 26-day EMA, there is a likelihood that the price of Ethereum will decrease. However, if the price action continues to show small candelabra such as Doji and spinning tops, the price of Ethereum will continue its movement linked to the interval.

ETHUSD Short-term trend: variable

Ethereum chart from the view of trading

On the short-term trend, the price of Ethereum was in a lateral trend. The ETH price is in the bearish trend zone as the price of the crypt is at the lower end of the price range. On December 6, the price of encryption exceeded the price level of $ 91, but bears broke the support level as the price had dropped to a low of $ 88.

Today the bulls have recovered since the price is testing the 26-day EMA. Meanwhile, the stochastic falls within the 20% range, indicating that the crypt has a bullish momentum and a buy signal.

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