• The market fell on a downward correction to a low at $198 price level.
• On the upside, if the bulls break above the 12-day EMA and the 26-day EMA, the coin will rise and retest the $320 and $340 price levels.

ETH/USD Medium-term Trend: Ranging

• Resistance Levels: $280, $300, $280
• Support Levels: $200, $180, $160

Last week the ETH/USD pair was trading in the bearish trend zone. The crypto’s price was trading below the 12-day EMA and the 26-day EMA after the bulls failed to break above the EMAs. On July 9, the ETH market was trading above the EMAs but was resisted at the $320 price level. The market fell on a downward correction to a low at $198 price level. The $200 support level was holding as the bulls made an upward move toward the EMAs.

Presently, the crypto’s price is ranging below the EMAs as the bulls were resisted by the EMAs. On the upside, if the bulls break above the 12-day EMA and the 26-day EMA, the coin will rise and retest the $320 and $340 price levels.

On the other hand, if the bulls fail to break the EMAs, the crypto’ price will continue its range-bound move below the EMAs. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Ethereum is in a sideways trend. The 12-day EMA and the 26-day EMA are trending horizontally. On July 27, the bulls were resisted at the $223 price level and the market fell on a downward correction to a low at $205 price level.

The crypto’s price is ranging above the $205 price level and at the time fluctuating above and below the EMAs. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

Ethereum’s price is $1,430.93 ETH/USD exchange rate today. The real-time ETH market cap of $163.32 Billion currently ranks #2 with , daily trading volume of $14.28 Billion and live coin value change of ETH 16.96 in the last 24 hours.

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