• The downward correction was ended on June 27 at a price of $291.
• On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $350 resistance level.

ETH /USD Medium-term Trend: Bullish

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

Yesterday, June 27, the price of Ethereum was in a bearish trend. The downward correction was ended on June 27 at a price of $291. Yesterday, it was assumed that a bearish trend was terminated if the price breaks the trend line and another candlestick closes on the opposite of it. On June 28, a candlestick broke the trend line and other candlesticks formed in the opposite of it.

On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $350 resistance level. On the other hand, if the bulls fail to break above the EMAs, ETH price will commence a range bound move below the EMAs. 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. In the lower time frame, the bulls were facing resistance at the $350 price level.

The crypto’s price fell to the $290 support level and commenced a range bound move. 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 line which indicate a sell signal.

Ethereum’s price is $1,982.70 ETH/USD exchange rate today. The real-time ETH market cap of $230.83 Billion currently ranks #2 with , daily trading volume of $17.39 Billion and live coin value change of ETH 1.93 in the last 24 hours.

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