Ethereum (ETH) Price Analysis (April 23)
• The cryptocurrency continues in its bullish momentum.
• Ethereum is gaining momentum and might head to $240.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $240, $250, $260
• Support levels: $85, $75, $65
The cryptocurrency is in an uptrend in its long-term outlook. The bulls lost the impulsive at $184.34 in the resistance area during yesterday's session and close at $183.
Today’s daily session opens with a bearish candle at $182.99 in the support area.
Price is down at $178.88 in the support area. With the price above the two EMAs and the stochastic oscillator signal pointing up at around level 70% in the overbought region implies that the momentum in price of the coin is in an upward trend and may continue to move up in the nearby days in the medium-term perspective.
ETH/USD Short-term Trend: Bullish
The momentum in price continues in an uptrend in its short-term outlook. A bullish doji candle at $182.99 opens today’s 4-hourly session in the resistance area an indication of a trend reversal, hence bears’ brief return.
Price is initially down at $178.78 in the support area.
Price is above the two EMAs suggests that the coin is in an uptrend in the context of the strength.
However, the stochastic signal pointing downwards at around level 78% in the overbought area suggests the momentum in price of Ethereum may change in the days ahead in the short-term.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.