ETH/USD Medium-term Trend: Ranging

Resistance Levels: $470, $480, $490
Support Levels: $450, $440, $430

Last week the Ethereum price was already in its sideways trend fluctuating between the  levels of $480 and $440. The ETH price attempted to break the resistance level at $480 without success but the price has fallen to the low of $469.11. Today, the cryptocurrency will still continue its range bound movement. Trading becomes unnecessary because price has no direction.

Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a neutral signal. In addition, the 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. The Relative Strength Index period 14 is level 50 which indicates that price is in the sideways trend zone.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, price of Ethereum is in a sideways trend. The MACD line and the signal line are at par with the zero line which indicates a neutral signal. The price of Ethereum is neither below nor above the 26-day EMA and the 12-day EMA which indicates that price is in a sideways trend.

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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