ETHUSD Long-term Trend: Bearish
Supply Zone: $600, $650, $700
Demand Zone: $550. $500, $450
Price of Ethereum has a bearish outlook but the bearish pattern is changing to a range bound movement. From the chart, price of Ethereum has fallen to the low of $381.17 as at March 25, 2018. The price had a bullish movement that made price to reach the high of $776.23. Again, the bears took over and brought price to the low of $559.47. The 20-day moving average was above the 50-day moving average when the asset had a bullish movement. However, the moving averages are trending southward as a result of the bearish trend.
Price of the asset may find itself in a range bound movement since the bulls and the bears take possession of price at their will. However, the relative strength index period 14 is level 48 indicates that price is in the range bound zone. But if the bears sustain the bearish trend then the demand zone would be breached.
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