ETH / USD Mid-term trend: Bearish
Resistance levels: $ 200, $ 220, $ 240
Support levels: $ 160, $ 140, $ 120
Yesterday, Sept. 11, the price of Ethereum was in decline trend. The price of Ethereum dropped to a minimum of $ 175.69. Today the cryptocurrency has a bearish tendency. The price has broken the main support level of $ 200. The price is likely to test the next support level which is $ 160.
If the price reaches the next level of support, this would probably be the first minimum from # 39; beginning of the year. However, the MACD line and the signal line are below the zero line indicating a sales signal. In addition, the price of Ethereum is lower than the 12-day EMA and the 26-day EMA which indicates that the downward trend is underway. The Relative Strength 14 index 14 is level 22 which indicates that the market is oversold which advises the bulls to take control of the market.
ETH / USD Short-Term Trend: Bearish
On the 1- hour chart, the price of Ethereum is in a bearish trend. The price of Ethereum is down because the EMA of 12 days and the EMA of 26 days are higher than the price of the cryptocurrency. The MACD line and the signal line are below the zero line indicating a sales signal.
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