ETH/USD Long-term Trend: Bearish
Supply Zones: $500, $550, $600
Demand Zones: $400. $350, $300
The ETH/USD pair was in a downward trend in the month of June 2018. The cryptocurrency fell from the high of $619.89 to the low of $413.04 on June 29,2018. The Ethereum price traded and sustained itself above the $400 price level. In the other words, the cryptocurrency was fluctuating between the levels $413.04 and $478. Presently, the price of Ethereum is trading at $467.07 as at the time of writing.
Meanwhile, 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 the Ethereum which indicates that the bearish pressure will continue. The relative strength index period 14 is level 44 which indicates that the price of the cryptocurrency is in a sideways trend zone.
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