Comparing the Numbers, Ethereum (ETH) Down 50% to Bitcoin (BTC) Since July 2017

ETH/USD Medium-term Trend: Bearish

Resistance Levels : $440, $445, $450
Support Levels: $430, $425, $420

Yesterday, June 27, price of Ethereum was on a downward trend. Today, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price of Ethereum which indicates that the bearish trend is ongoing.Yesterday, the bulls had resisted the bears at the price of $420, that was why price was in a sideways trend.

The cryptoasset had been ranging between the levels of $460 and $420 since price fell to the low of $420. However, if that level at $420 had been broken, the cryptoasset would find support at $380.The relative strength index period 14 is level 38 which indicates that the market is nearing the oversold market condition suggesting bulls to take control of the market.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Ethereum is in a bullish trend. The MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars of Ethereum are above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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