ETH/USD Medium-term Trend: Bearish
Resistance Levels: $440, $450, $460
Support Levels: $420, $410, $400
Yesterday, July 12, the price of Ethereum was in the bearish trend. The Ethereum price fell and closed at a price of $426. Today, the cryptocurrency is in a bullish trend and it is trading at a price of $435.17. However, since the bearish trend is not over the digital currency is likely to find support at $413.04.
Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price bars of Ethereum which indicates that the bearish trend is ongoing. The relative strength index period 14 is level 41 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 bullish trend. Price of Ethereum had a bullish movement because the price bars of Ethereum are above the 26-day EMA and 12-day EMA. The bullish movement may likely face resistance at a price of $445.The MACD line and the signal line are below the zero line which indicates a sell signal.
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