• Both the medium-term and short-term continues in an uptrend market.
• Buyers are in control of market trading in the upper resistance area.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $290, $300, $310
• Support levels: $110, $100, $80
The crypto continues in a bullish trend market in its medium-term outlook. The increasing momentum pushes price up to $286.31 in the upper resistance area, during the session yesterday. The momentum lost as exhaustion sets in as bears returns briefly.
Pressure from the bears pushed the price from $286.31 in the resistance area to $282.00 in the support area, as the market opens today.
ETHUSD drops further to $278.00 in the support area. The coin is trading above the resistance line and above the two EMAs indicates the coin is in upward momentum.
The signal of the stochastic oscillator points upwards at around level 80% suggests an upward momentum in price of Ethereum in the medium-term.
ETH/USD Short-term Trend: Bullish
Ethereum is in a bullish trend in its short-term outlook. Today’s 4-hourly session at $281.00 opens on a bearish note in the support area.
Pressure from the bears pushes the price further down to $278.00 in the support area.
Price is above the two EMAs above the resistance line an indication that the momentum in price of Ethereum is in an uptrend in its short-term perspective.
However, the stochastic oscillator signal pointing down at around level 89% in the overbought region suggests that the price of Ethereum is likely to encounter a change in trend 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.