ETH / USD Mid-term trend: Bearish
Resistance levels: $ 220, $ 240, $ 260
Support levels: $ 180, $ 160, $ 140
Yesterday, September 17, the price of Ethereum was in decline trend. The cryptocurrency had been bullish and was rising to a maximum of $ 225.20 before its final fall reached the minimum of $ 194.62. The price broke the critical support level of $ 200, which is the main support level. However, today the price is respecting this critical level and is in a lateral trend.
Traders will start long operations in anticipation of an uptrend and stop-loss orders at a price of $ 188.78. The price should increase. However, the MACD line and the signal line are above the zero line indicating a purchase 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 Index 14 is level 38 which indicates that the market oversold suggests bulls to take control of the market.
ETH / USD Short-Term Trend: Bearish
In 1 hour chart, the price of Ethereum is in a bearish trend. The ETH price has dropped to the lowest level and is now in a range-related movement at a price of $ 197.11. In the short span of time, the 12-day EMA and the 26-day EMA are higher than the cryptocurrency price, which indicates that the price is decreasing. The MACD line and the signal line are below the zero line indicating a sales signal.
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