Price analysis of Ethereum (ETH) – 9 November

Ethereum chart from the view of trading

ETHUSD Medium-term trend: bearish

Resistance levels: $ 200, $ 220, $ 240

Support levels: $ 180, $ 160, $ 140

Yesterday, the price of Ethereum was in a bearish trend. The crypto was rejected because Ethereum faced the resistance at the price of $ 220. The price of the crypt approaches the 12-day EMA and the 26-day EMA. If the price breaks EMAs, cryptography will find support for $ 200. In addition, the stochastic indicator is less than 80, which indicates a sell signal and the momentum is on the down side.

Meanwhile, the price of Ethereum is higher than the 12-day EMA and the 26-day EMA indicating that it is in the bullish trend zone.

Short-term trend of ETHUSD: bearish

Ethereum chart from the view of trading

On the short-term trend, the price of Ethereum is in a bearish trend. The price of encryption is less than 12 days EMA and 26 days EMA indicating that the price is in the downtrend zone. In addition, the stochastic is less than 20, which indicates that the price is in the oversold region. It also means that the momentum is strong and that an oversold market has a high probability of falling.

Traders can stick to their short positions until the market reverses.

The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.