ETH/USD Medium-term Trend: Bullish
Resistance Levels : $ 450, $455, $460
Support Levels: $445, $440, $435
Yesterday, June 25, price of Ethereum was also in the downward trend.The cryptoasset closed at a price of $ 459.49 after it pulled back from the low of $425.57. If price sustains its momentum, the cryptoasset will reach the highs of $500 and $600. Traders are expected to initiate long trades if price appreciates.
A Fibonacci tool is attached to enable you to initiate long trades. In an uptrend, if price retraces from the recent high it will find support on one of the Fib. retracement levels where you will initiate a long trade. Nevertheless, the relative strength index period 14 is level 44 which indicates that price is in the range bound zone.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Ethereum is 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 the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing
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