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ETH / USD Medium-term Trend: Bullish
Resistance Levels: $ 260, $ 280, $ 300
Support Levels: $ 200, $ 180, $ 160
Last week the price of Ethereum was in a bearish trend. The ETH price fell to the low of $ 213.71 and commenced a bullish movement. Today, the bullish trend is continuing as the price tests the trend line. In a bullish trend, traders can initiate long trades. However, if price breaks the current trend will be over.
Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Ethereum is above the 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. The Relative Strength Index period 14 is level 53 which indicates that price is in the sideways trend zone.
ETH / USD Short-term Trend: Ranging
On the 1-hour chart, the price of Ethereum is in a sideways trend. The ETH price fell to the low of $ 228.62 and commenced to bullish to the high of $ 234.49. The price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. The MACD line and the signal line are above the zero line which indicates a buy signal.
Do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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