Ethereum (ETH) Price Analysis – January 7

Ethereum Chart By Trading View

ETHUSD Medium-term Trend: Bullish

• Resistance Levels: $ 230, $ 240, $ 250
• Support Levels: $ 150, $ 130, $ 110

Last week the price of Ethereum was in a bullish trend. Since December 17, the bulls broke the 12-day EMA and the 26-day EMA to move into the bullish trend zone. The price is trading at $ 155 at the time of writing. The crypto had been trading above the EMAs but could not break the resistance at the $ 160 price level.

On three occasions without breaking it. If the bulls succeed in breaking the $ 160 price level, the crypto will reach the previous levels of $ 200 and $ 220. If the bears breaks the EMAs to the downside; the crypto will fall to the $ 140 or $ 135 price level.

Meanwhile, the stochastic indicator is in the overbought region above 80% range. This indicates that the price of Ethereum is a strong bullish momentum.

ETHUSD Short-term Trend: Bullish

Ethereum Chart By Trading View

On the 4-hour chart, the price of Ethereum is a bullish trend zone. A bearish candlestick has broken the 12-day EMA and the 26-day EMA to the downside. The crypto's price is approaching the $ 150 price level. The crypto will be in the range above the $ 150 price level.

Meanwhile, the stochastic indicator is below the 60% range which indicates that Ethereum is in a bearish momentum.

CryptoGlobe.com and do not constitute financial advice. Always do your own research.