ETH / USD long-term trend: bearish
- Resistance levels: $ 350, $ 370, $ 390
- Support levels: $ 120, $ 100, $ 90
The price of Ethereum had been on the uptrend since 17 December. On January 1, the initial balance of the crypt had risen to a maximum of $ 136 but the bulls could not break the resistance to the $ 160 level. On 10 January the bears broke the 12-day EMA and the 26-day EMA in the bearish trend zone due to the inability of bulls to break the resistance level.
The ETH price is now lower than the 12-day EMA and the 26-day EMA indicating that the price is expected to decline. The price of the crypto has dropped and is nearing the price level of $ 128. The crypt will further devalue if the $ 120 level has been broken, which will make Ethereum reach the lows of $ 105 and $ 110.
Meanwhile, the stochastic is outside the oversold region but above the 60% range indicates that Ethereum has a bullish moment and a buy signal. The MACD line and the signal line are below the zero line indicating a sales signal.
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