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ETH/USD Medium-term Trend: Ranging

Resistance Levels: $410, $420, $430
Support Levels: $390, $380, $370

Yesterday, ETH price was in a bearish trend which resulted in the breaking of the range-bound zone. The downward trend continued as the price fell to the low of $404.25. However, if the bearish pressure continued price of Ethereum will reach the low of $381.25. Today, ETH price is in a sideways trend until we see a possible breakout.

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 a bearish trend is ongoing. The relative strength index period 14 is level 40 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 below the zero line which indicates a sell signal. Price of Ethereum is neither below nor above the 12-day EMA and the 26-day EMA which indicates that price is in the sideways trend zone

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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