Ethereum (ETH) Price Analysis (April 28)
• ETHUSD remains in a bullish trend zone market.
• The bulls are in the dominance of the market.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $260, $270, $280
• Support levels: $85, $75, $65
The crypto continues in the bullish trend market in its medium-term perspective. The EMA-9 acted as strong support for the bullish upward price movement each time price drops around it.
Today’s daily session opens with a bearish pin bar candle at $196.63 in the support area.
Price further drops to $192.06 in the support area, price is above the two EMAs this indicates that the momentum in price of the coin is in an uptrend.
Meanwhile, the stochastic oscillator signal pointing down at level 93% in the overbought region suggests a downward momentum in the cryptocurrency price and a sell signal in the medium-term.
ETH/USD Short-term Trend: Bullish
The cryptocurrency continues in the bullish trend in its short-term outlook.
The 4-hour opening candle at $196.63 in the support area with a long wick is an indication of a trend reversal, hence bulls’ brief return.
Price further rise to $196.25 in the resistance area above the two EMAs which are fanned apart.
This suggests strength in the context of the trend and in this case the uptrend.
The stochastic oscillator is in the overbought region with signal pointing down at 56% suggests that the momentum in the price of the coin may likely encounter a 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.