ETH / USD long term trend: Bearish
Strength levels: $ 350, $ 370, $ 390
Support levels: $ 280, $ 260, $ 240
On August 1, the price of Ethereum was in a bearish trend with an initial balance of $ 431.86. The cryptocurrency has depreciated and reached the lowest level and closed at the price of $ 257.58. that the price of Ethereum depreciated by 40.35%. However, since August 14, the price of Ethereum has fluctuated between the levels of $ 320 and $ 260. The price did not break the upper and lower range of the price. the upper and lower range of the price will generate partial profits. The price is approaching the upper level of the price range.
Meanwhile, the MACD line and the signal line are below the zero line indicating a sales signal. In addition, the price of ETH is less than 12 days EMA and th and EMA at 26 days indicating that the price is in a downward trend. The Relative Strength Index period 14 is level 3 which indicates that the market is oversold which suggests bulls take control of the market.
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