ETH / USD medium-term trend: Range
Resistance levels: $ 330, $ 340, $ 350
Support levels: $ 300, $ 290, $ 280
Last week the price of Ethereum was in a sideways trend: the price was between the levels of $ 320 and $ 260. At the top level of the price range, the cryptocurrency was thwarted to a price of $ 297.53 and $ 296.20 and the price fell to the lows of $ 274.83 and $ 276.20. On 31 August, the cryptocurrency made a bullish movement of up to $ 299.44. Today, the price is going down from the high of $ 299.44.
should start trading at the upper and lower level of the range limit zone. If traders undertake a resistance trade short of $ 299.44, traders would make partial profits when the price falls to the lower end of the band. of price. of the price range, a long trade should be initiated 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 period 14 of the relative resistance index is level 47 which indicates that the price is in the lateral trend zone.
ETH / USD short-term trend: range
In the 1-hour chart, the price of Ethereum is in a lateral trend. The price of Ethereum is lower than the 12-day EMA and the 26-day EMA which indicates that the price is falling.
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