• Bulls are in the dominance of the market.
• The crypto continues to trade in the bullish trend zone.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $280.00, $290.00, $300.00
• Support levels: $110.00, $100.00, $80.00
ETHUSD continues to trade in the bullish trend zone in its medium-term outlook. Bull’s pressure sustains the price of the crypto further up at $265.54 above the resistance line as the session begins today.
Bulls increased momentum pushes price up to $273.68 in the upper resistance area above the resistance line as the journey up north continues.
Price is above the two EMAs, this implies the buyers are in control of the market.
Meanwhile, the stochastic oscillator signal pointing up at around level 97% in the overbought region indicates that price of the Ethereum may likely encounter a change in trend in the days ahead in the medium-term.
ETH/USD Short-term Trend: Bullish
Ethereum is in a bullish trend in its short-term perspective. $273.73 in the resistance area was the high of yesterday.
Today’s 4-hour opening candle at $265.54 was bullish as the bulls remain dominant in the market. ETHUSD further rises to $271.00 in the resistance area due to the pressure from the bulls.
Price is above the two EMAs at around the upper resistance area, this suggests an upward momentum in price of the coin.
The signal from the stochastic oscillator pointing down at around level 88% in the overbought area is an indication that momentum in price of the coin is likely to change in the future 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.