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Medium-term trend ETH / USD: bearish
Resistance levels: $ 240, $ 250, $ 280
Support levels: $ 70, $ 60, $ 50
Yesterday, December 6, the price of Ethereum was in a bearish trend. The crypt is having a free fall in the last 48 hours. On November 5th, the ETH price was trading at $ 104 and dropped at the minimum of $ 99 the following day. Today, the price of the crypt has fallen to a low of $ 87.90 and the downward trend will probably continue.
Meanwhile, the two EMAs are pointing south, indicating that the price is falling. The ETH price is lower than the 12-day EMA and the 26-day EMA indicates that the price is likely to fall. Furthermore, 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 period of time, the crypt is making a series of lower and lower highs. The bulls made no attempt to lower the price. The two EMAs are pointing south, indicating a downward trend.
Meanwhile, the price is below 12 days EMA and 26 days EMA, indicating that the price is likely to fall. Traders should suspend any long order until the downward pressure is over, but they should look for purchase configurations.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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