ETH / USD long-term trend: bearish
Resistance levels: $ 240, $ 260, $ 280
Support levels: $ 200, $ 180, $ 160
The general tendency for the price of Ethereum was bearish. The cryptocurrency was in decline from the beginning of the month. The ETH price has an initial balance of $ 282.80 which has fallen to a minimum of $ 228.62. In other words, a depreciation of about 19.15% of the price of Ethereum. However, in the first week of October, the digital currency is above the price level of $ 200. The price level of $ 200 had been the critical support level of Ethereum.
Traders must look for purchase configurations to start long exchanges. Meanwhile, the ETH price is lower than 12 days for EMA and 26 days for EMA indicating a downward trend is under way. The period relative to the Relative Resistance Index 14 is level 36 which indicates that the market is an oversold signal that endures depletion and advises the bulls to take control of the market.
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