Price analysis of Ethereum (ETH) – December 28th

Ethereum chart from the view of trading

ETHUSD Medium-term trend: bearish

• Resistance levels: $ 230, $ 240, $ 250
• Support levels: $ 130, $ 120, $ 100

Yesterday, the ETHUSD pair was in bearish trend. The price of the crypto dropped to a minimum of $ 118.57, but was offset by the 12-day EMA and the 26-day EMA. EMAs now served as support for the price of Ethereum. However, on December 27th, there were more sales at the price level of $ 120. As a result of the broken support at $ 120, the encryption could probably drop to a minimum of $ 110.

Meanwhile, 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. In addition, the stochastic indicator is outside the overbought region but below the 60% range, which indicates that Ethereum has a downward moment.

Short-term trend of ETHUSD: bearish

Ethereum chart from the view of trading

On the short-term trend, the price of Ethereum is in a bearish trend. The price of the encryption dropped to a minimum of $ 118.08 and started a bullish movement above that level. The price of the crypto is lower than 12 days for EMA and 26 days for EMA, which indicates that the price is likely to fall. The stochastic bands are in the oversold region but below the 20% range indicating that Ethereum has a strong downward impulse.

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