ETH/USD Medium-term Trend: Bullish
Resistance Levels: $490, $500, $510
Support Levels: $470, $460, $450
Yesterday, July 24th, price of Ethereum was in a bullish trend. The cryptocurrency had a bearish movement to the low of $447.64 the previous day. If traders had initiated a long trade at the previous low of Ethereum, they would have made partial profits as the digital asset is in a bullish trend. Today, the bulls has made a bullish movement to the high of the $480.13 as at the time of my writing.
Nevertheless, the MACD line and the signal line are neither above nor below the zero line which indicates a neutral signal. In addition, the price of Ethereum is above the 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. The Relative Strength Index period 14 is level 62 which indicates that price is in the bullish trend zone.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, price Ethereum is in a bullish trend. The MACD line and the signal line are above the zero line which indicates a buy signal. The price of Ethereum is above the 26-day EMA and 12-day EMA which indicates that the bullish trend is ongoing.