ETH/USD Long-term Trend: Bearish

  • Resistance Levels: $350, $360, $370
  • Support Levels: $130, $120, $110

The ETH/USD pair was in a bullish trend in the last week of December 2018. Also, in December, neither the bulls nor the bears have control over the price of Ethereum. Ethereum has an opening balance of $113.64 but closed trading at a price of $139.65 as at the time of writing. In the other words, Ethereum had a 22% gain to its capitalization. From the weekly chart, the crypto’s price is in the bearish trend zone.

Meanwhile, the crypto's price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the stochastic is in the oversold region but above the 20% range indicating that Ethereum is in a bullish momentum and a buy signal.

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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