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Price analysis of Ethereum (ETH): withstand $ 100 per hour

Ethereum, ETHUSD, CryptoCompare chartEthereum chart from the view of trading

ETHUSD Medium-term trend: bearish

Resistance levels: $ 230, $ 240, $ 250

Support levels: $ 100, $ 90, $ 80

Last week the ETHUSD pair had a bearish trend. November 19 traded above the $ 150 level, but fell to a low of $ 114.80. Today, the digital currency is floating above the November 24th low of the price level of $ 114. From the daily chart, the Stochastic indicator is included in the interval below 20. This implies that the price of Ethereum is in the oversold region of the market.

The digital currency is likely to reach a minimum of $ 100. As long as the stochastic bands remain in the oversold region, the crypt will continue its downward trend. In the meantime, the price of the crypto is lower than the 12-day EMA and the 26-day EMA, indicating that the price should decrease.

Short-term trend of ETHUSD: bearish

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On the short-term trend, the price of Ethereum is in a bearish trend. The price of the digital currency dropped to a minimum of $ 107.13 and made a bullish movement at the 12-day EMA. The 12-day EMA is resisting the bullish movement. If the crypt falls below the 12 day EMA, the crypt will resume its downward trend.

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