• On the upside, if the 26-day EMA holds, the bulls will break the EMAs, and the crypto’s price will rise and retest the $340 overhead resistance.
• On June 30, the price of Ethereum fell to a low of $290 and commenced a range bound move.

ETH /USD Medium-term Trend: Bullish

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

Last week the ETH /USD pair had been trading below the 12-day EMA after the downward correction. The ETH market had earlier reached a high of $ 340 but the bulls were resisted. The market was on a downward correction to the low at $294 or to the support level of the 12-day EMA. The bulls responded at the support level  but were repelled at the $320 price level.

On June 30, the price of Ethereum fell to a low of $290 or to the support level of 26-day EMA. The crypto’s price had been trading below the 12-day EMA but above the 26-day EMA in the last one week. On the upside, if the 26-day EMA holds, the bulls will break the EMAs, and the crypto’s price will rise and retest the $340 overhead resistance .Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the price of ETH is in a bullish trend. The 12-day EMA and the 26-day EMA are sloping horizontally. The coin had been facing resistance at the $296 price level. On July 7, the bulls reached a high of $296 price level.

However, the bulls were resisted as the price fell to the support level of the 26-day EMA to resume a range bound move above the EMAs. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

Ethereum’s price is $1,503.96 ETH/USD exchange rate today. The real-time ETH market cap of $172.76 Billion currently ranks #2 with , daily trading volume of $11.15 Billion and live coin value change of ETH 9.69 in the last 24 hours.

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