ETH/USD Medium-term Trend: Bullish
Resistance Levels : $ 540, $545, $550
Support Levels: $530, $525, $520
Yesterday, June 20, price of Ethereum closed at a price of $532.44 after the range bound movement. The cryptoasset is rising as the 12-day EMA and the 26-day EMA trend towards the north. Also, note that the candlestick has broken the upper band of the Bollinger Bands thus indicating that price of Ethereum is likely to rise.
Meanwhile, the MACD line and the signal are above the zero line indicating a buy signal. Also, the price of cryptoasset is above the 12-day EMA and the 26-day EMA indicating that the bullish trend is ongoing. Nevertheless, the relative strength index period 14 is level 62 indicates that price is in the bullish trend zone. Traders can look out for buy setups above the price of $500 in anticipation of a possible rise in the price of the crypto asset.
ETH/USD Short-term Trend: Bullish
In the 1-hour chart, the cryptoasset had a bullish trend. Meanwhile, the MACD line and the signal line are above the zero line indicates a buy signal. Also, price of Ethereum is above the 12-day EMA and 26-day EMA indicating that the bullish trend is ongoing.
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