ETH / USD Medium-term trend: bullish
Resistance levels: $ 240, $ 260, $ 280
Support levels: $ 210, $ 190, $ 170
Yesterday, November 6, the price of Ethereum was in a lateral trend. The digital currency has fluctuated above and below the $ 200 level in the previous week. Yesterday it was suggested that traders should start long trades by anticipating an uptrend.
Today, the price of the crypt has reached a maximum of $ 222.69 and the price is facing resistance at the $ 220 level. It is suggested that traders abandon their long negotiations. Meanwhile, the MACD line and the signal line are above the zero line indicating a purchase signal. In addition, the price of Ethereum is higher than the 12-day EMA and the 26-day EMA which indicates that the price is in the uptrend zone.
Short-term ETH / USD trend: bullish
In the 1 hour chart, the digital currency has an uptrend. The upward trend is making a series of higher highs and higher lows that have been interrupted by bears. The price of the crypt broke the trend line and the next candle closed in the opposite direction of the trend line. The price of the crypt is higher than the 12-day EMA and the 26-day EMA which indicates that the price is in the uptrend zone. The MACD line and the signal line are above the zero line indicating a purchase signal.
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