Medium-term trend ETH / USD: bearish
Resistance levels: $ 240, $ 260, $ 280
Support levels: $ 210, $ 190, $ 170
Yesterday, November 7th, the price of Ethereum was in a lateral trend. The digital currency was priced at $ 221.90 when the price of the encryption had fallen to a minimum of $ 215.80. The price of encryption has interrupted the 12-day EMA and the 26-day EMA which indicates that the price is likely to decline. Today, while the price of Ethereum is decreasing, it could revisit the previous minimum of $ 200.
If the price drops to the previous low of $ 200, traders should start long trades in anticipation of an uptrend. Meanwhile, 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 indicating that the price is in the bearish trend zone.
Short-term trend ETH / USD: bearish
In the 1 hour chart, the digital currency has a downward trend. The price of the crypt has collapsed and has broken the 12-day EMA and the 26-day EMA which indicates that the price is likely to decline. The price of Ethereum is likely to withstand the minimum of $ 200, which will result in a movement linked to the interval.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.