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Ethereum chart from the view of trading
ETHUSD Medium-term trend: bullish
Resistance levels: $ 220, $ 230, $ 240
Support levels: $ 210, $ 200, $ 190
The ETHUSD pair had a bullish trend yesterday. On October 29, the price of the crypt began its bullish movement at the $ 200 level. The price level of $ 200 had been the main support level of Ethereum. A level where there are more buyers than sellers. The price of Ethereum is likely to resist a price of $ 220.
If the bulls break the $ 220 level, the price will gather at the $ 240 level. The stochastic indicator is in the range of 80 indicating that the buy signal has reached the overbought region. The momentum in the price of the crypt is strong. If the price remains long in the overbought region, then it is said that the momentum is high.
Meanwhile, the price of Ethereum is higher than the 12-day EMA and the 26-day EMA indicating that the price is in the uptrend zone.
ETHUSD Short-term trend: bullish
Ethereum chart from the view of trading
On the short-term trend, the price of Ethereum is in an uptrend. On the 4-hour chart, the Stochastic is coming out of the overbought region and falls below the region of 80. It indicates that the momentum is decreasing and that it will result in a sales signal. From the price action, the highest highs and the highest lows were interrupted. The price is likely to interrupt the trend line and stop the uptrend.
The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.
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