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ETH / USD Mid-term trend: range [19659004] Strength levels: $ 370, $ 380, $ 390
Levels of support: $ 350 $ 340, $ 330
Yesterday, August 9, the price of Ethereum was in a lateral trend. The downtrend had taken the price to a minimum of $ 354.54. It was assumed that if the bearish trend continued, the price would fall to the minimum $ 326.42 and $ 283. Today the cryptocurrency has a sideways tendency, there is no significant price movement.
Bears may have exhausted their bearish pressure, now it is up to traders to look for purchase plans to start long trades in anticipation of an uptrend, however, the MACD line and the signal line are below the zero line which indicates a sales signal. 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 14 index 14 is level 32 which indicates that the market is oversold which advises the bulls to take control of the market.
ETH / USD Short-Term Trend: Ranging
On the 1- hour table, the price of Ethereum is in a lateral trend. The MACD line and the signal line are below the zero line indicating a sales signal. The price of Ethereum is lower than the 12-day EMA and the 26-day EMA which indicates that the price is falling.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research
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