ETH/USD Medium-term Trend: Bearish
Resistance Levels : $510, $520, $530
Support Levels: $490, $480, $470
Yesterday, June 14, price of Ethereum is in a bullish trend. Ethereum asset fell to its low at a price of $460.78 during a downward trend. But the asset has risen to the high of $511.67 as at the time of my writing. From the 4-hour chart, the MACD line and the signal line are below the zero line indicating a sell signal .
Also, the 12-day EMA and the 26-day EMA are neither below nor above the price of the asset which indicates a neutral signal. The indicator is undecided about the type of trend. The relative strength index period 14 is level 49 indicates that price of the asset is in the range bound zone . The price of the asset is no longer under the control of the bears but now in a sideways trend.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, price of Ethereum is in a bullish trend. From the chart, the MACD line and the signal line are above the zero line indicating a buy signal for day traders. The price of the asset is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing.
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