ETH/USD Medium-term Trend: Bearish
Resistance Levels : $460, $465, $470
Support Levels: $440, $435, $430
Last week, the ETH/USD pair was in a bearish trend. Price of Ethereum traded at a price of $498.33 last week but fell during the week to the low of $457.20. The 12-day EMA and the 26-day EMA are still trending southward. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
Also, the 12-day EMA and the 26-day EMA are above the price bars of Ethereum which indicates that the bearish trend is ongoing. Nevertheless, the relative strength index period 14 is level 38 which indicates that the market is oversold suggesting bulls to take control of the market.
ETH/USD Short-term Trend: Bullish
In the 1-hour chart, price of Ethereum has been in a bullish trend. The bulls took price from the low of $425.51 to the high of $457.20. The cryptoasset is currently in a sideways trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price of Ethereum is above 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing
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