Chart Ethereum of TradingView
Price Ethereum Trend in the medium term:
Supply Zones: $ 500, $ 550, $ 600
Application Zones: $ 200, $ 150, $ 100
The ETH continues in the range of its medium-term prospects. The bullish impulse pushed its price to $ 370.39 in the supply area, but the candles closed below the 10-day EMA. The bears forming an overturned hammer are back on the market.
The cryptocurrency was therefore reduced to $ 362.00 in the demand area below the 10-day EMA. The bears then lost momentum as the market rejected the continuation of a downward movement. The day opened with a 4-hour bullish candle at $ 360.39, surpassing yesterday's opening at $ 355.63. This means that more buyers are on the market.
The stochastic oscillator is at 40% and its signal points towards the top which signals the upward movement for cryptocurrency. ETH continues to fluctuate and trades between $ 385.13 in the upper supply area and $ 346.62 in the lower demand area of its range. Traders should be patient and wait for a breakout before taking a position.
Short-term trend in the price of Ethereum: Ranging
Ethereum Chart by TradingView
ETH has entered into consolidation in its short-term perspective. The bullish momentum pushed its price from $ 350.83 in the supply area to $ 370.39 in the demand area. The formation of a model of night star candles saw bears pushing the price to $ 355.36 in the demand area
The stochastic oscillator is at 44% and its signal points towards the high, which implies an upward momentum for ETH. It is still in a trading range between $ 372.68 in the upper supply area and $ 353.53.30 in the lower demand area. Traders should be patient, waiting for a break to occur before taking a position.
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