• The crypto’s price was resisted again at the $320 price level as the bears took the price to a low at $290.
• Nevertheless, if the bulls defend the 0.382 and 0.50 Fib retracement levels, the crypto’s price will rise to reach the previous highs.

ETH /USD Medium-term Trend: Bullish

• Resistance Levels: $320, $330, $340
• Support Levels: $290, $280, $270

Last week the price of Ethereum reached a high of $340 price level. The bulls were resisted and the market was on a downward correction to a low at $280 price level. At the low of $280, the bulls make an upward move to retest the $340 overhead resistance. The crypto’s price was resisted again at the $320 price level as the bears took the price to a low at $290.

The ETH price is again in an upward move to retest the overhead resistance level. From the Fibonacci tool, the ETH price fell at the support level of the 0.50 (50%) Fib. retracement level. The 0.50 Fib. retracement is a downtrend trend zone for a trending market. Nevertheless, if the bulls defend the 0.382 and 0.50 Fib retracement levels, the crypto’s price will rise to reach the previous highs. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

ETH/USD Short-term Trend: Bearish

On the 1-hour chart, the price of ETH is in a bearish trend. The 12-day EMA and the 26-day EMA are trending southward. On June 30, the bulls also reached a high of $322 price level and were resisted the bulls pulled back price above the EMAs but the bears resisted the bullish move.  Meanwhile, the MACD line and the signal line are below the zero lines which indicate a sell signal.

Ethereum’s price is $4,120.41 ETH/USD exchange rate today. The real-time ETH market cap of $477.19 Billion currently ranks #2 with , daily trading volume of $22.65 Billion and live coin value change of ETH 4.85 in the last 24 hours.

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