ETH/USD Medium-term Trend: Bearish
Resistance Levels: $240, $250, $280
Support Levels: $100, $90, $80
Yesterday, November 27, the price of Ethereum was in a bullish trend. The bullish trend that began yesterday has entered the second day. Today, the crypto's price has broken the 12-day EMA and it is approaching the 26-day EMA.
However, if the crypto's price breaks the two EMAs and remain above it; the digital currency will be in the bullish trend zone. The price of Ethereum will begin to rise. The bearish trend will be said to have reversed. Traders are to look out for buy setups in an anticipation for a bullish trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price is above the 12-day EMA which indicates price is rising.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto's price is in a bullish trend. The digital currency has broken the 12-day EMA, the 26-day EMA and has remained above it. The crypto's price is now in the bullish trend zone. Traders can initiate long trades with a stop loss order below the $100 price level.
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