Long-term trend ETH / USD: Bearish
Resistance levels: $ 230, $ 250, $ 270
Support Levels: $ 200, $ 180, $ 160
The price of Ethereum was in a lateral trend at the beginning of September 2018. The ETH price was fluctuating between the levels of $ 320 and $ 260 with a balance initial price of $ 282.80. The bears resisted the price of $ 299.38 and brought the price to a minimum of $ 225.29. The price has broken the lower level of the previous price range which is $ 260. While the downward pressure has subsided, the ETH price is now priced at $ 216.40.
The price of Ethereum is likely to rise because the price has reached the critical support level at $ 200 However, the MACD line and the signal line are below the zero line indicating a signal of In addition, the price of Ethereum is lower than the 12-day EMA and the 26-day EMA indicating that the downward trend is underway. The Relative Strength Index period 14 is level 34 which indicates that the market is oversold which suggests bulls take control of the market.
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