ETH/USD Medium-term Trend: Ranging
Resistance Levels: $420, $440, $460
Support Levels: $400, $380, $360
Last week, the price of Ethereum had been in a sideways trend fluctuating between the levels of $480 and $420. The ETH price has broken the support level of the range bound zone. Today, the price of Ethereum has fallen to the low of $400.36 and had commenced another sideways trend .
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price bars of Ethereum are below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. The relative strength index period 14 is level 44 which indicates that price is in the sideways trend zone.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Ethereum is in a sideways trend. The MACD line and the signal line are above the zero line which indicates a buy signal. Price of Ethereum is rising because the price bars of Ethereum are above the 26-day EMA and 12-day EMA. If the price of Ethereum had fallen the support levels would have been breached.
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