ETH/USD Medium-term Trend: Bullish

Resistance Levels : $ 450, $460, $470
Support Levels: $430, $420, $400

Last week, price of Ethereum was in a bearish trend and the bulls sustained price above the $400 price level during the week. The cryptoasset fell to its low at $413.04 but made a bullish movement and closed trading at a price of $451.91 on June 30. The cryptoasset is now in a sideways trend.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price bars of Ethereum are above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing. The relative strength index period 14 is level 55 which indicates that price is the sideways trend zone.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Ethereum is in a sideways trend. The cryptoasset is trending horizontally above the $400 price level . Meanwhile, the MACD line and the signal line are neither above nor below the zero line which indicates a neutral signal. Also, the price bars of Ethereum is neither above nor below the 12-day EMA and the 26-day EMA which indicates that a sideways trend is ongoing.

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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