Medium-term trend ETH / USD: bearish
Resistance levels: $ 240, $ 250, $ 260
Support levels: $ 130, $ 120, $ 110
Yesterday, November 20, the price of Ethereum was in a bearish trend. On November 19, the price of the crypt continued with the downward movement making a series of lower and lower lows. On November 20, the price action moved to a lateral trend and subsequently to an upward trend. In the lower time period, the price broke the 12-day EMA and the 26-day upward EMA. Subsequently the bearish trend continued.
This indicates that bears are losing control of the market when the market has reached the oversold region. Meanwhile, the price is lower than the 12-day EMA and the 26-day EMA indicates that the price is in the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line indicating a sales signal.
Short-term trend ETH / USD: bearish
In the 1 hour chart, the price of the crypt is in a downward trend. In the lower frame, the price action of Lower low and lower highs has changed. The price of the crypt reached a minimum of $ 129.57 and started a bullish movement. Bears are losing control of the market. Traders should look for purchase configurations to start long exchanges. So a stop loss should be placed below the previous minimum of $ 129.
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