[ad_1]
ETH / USD Medium-term Trend: Ranging
- Resistance Levels: $ 240, $ 250, $ 280
- Support Levels: $ 80, $ 70, $ 60
Last week the price of Ethereum was in a bearish trend. On December 9, the crypto's price reached the high of $ 99 while in a bullish trend. Later, the crypto's price fell to the bearish trend zone after facing resistance at the $ 100 price level. On December 15, the price of Ethereum fell to the low of $ 83.56 and commenced a bullish movement.
The crypto's price broke the EMAs and is now trading in the bullish trend zone. The price of Ethereum will rise if the crypto's price remains above the EMA. The EMAs now provides a support for the crypto's price. Meanwhile, the MACD line and the signal line are the zero line which indicates a sell signal. Also, the price of ETH is below 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone.
ETH / USD Short-term Trend: Ranging
On the 1-hour chart, the crypto's price was in a bearish trend. On December 15, the crypto commenced a bullish movement and broke the 12-day EMA and the 26-day EMA. The ETH price is now trading below the EMAs. There is the likelihood that price will rise in the bullish trend zone.
Meanwhile, the MACD line and the signal line are the zero line which indicates a sell signal. Also, the crypto's price is below 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone.
Do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
[ad_2]
Source link
