Predictions of the daily price of Ethereum (ETH) – 8 January

ETH / USD Medium-term trend: bullish

• Resistance levels: $ 240, $ 250, $ 280
• Support levels: $ 150, $ 130, $ 110

Yesterday, 7 January, the price of Ethereum was in an uptrend. The price of the crypt has reached the maximum of $ 165 but has been rejected. The price of Ethereum fell and broke under the 12-day EMA and the 26-day EMA. It is likely that if the bearish pressure continues and the $ 150 level would be broken, and the price of the crypt could fall to the low of $ 135 and $ 140 price levels.

In the meantime, the stochastic indicator is in the oversold region but below the 20% range. This implies that Ethereum has a strong bearish impulse and a sales signal. 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 encryption is in a bearish trend zone. On 7 December, the price of the crypt broke under the 12-day EMA, the 26-day EMA and fell to a low of $ 153.16. The stochastic is located in the oversold region but below the 20% range indicates that Ethereum is in a bearish momentum and a sell signal. However, as the price of the crypto is lower than the 12-day EMA and the 26-day EMA, encryption is likely to continue to fall.

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