ETH/USD Medium-term Trend: Bullish
Resistance Levels: $240, $260, $280
Support Levels: $180, $160, $140
Yesterday, September 12, the price of Ethereum was in a sideways trend. The price of Ethereum fell to the low of $167.32 and commenced a sideways trend. Later it made a bullish movement to the previous high. Today, the cryptocurrency is likely to face resistance at the price of $192.64 .
The price of Ethereum is likely to reach the $200 price level if the resistance is overcome. Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. The Relative Strength Index period 14 is level 52 which indicates that price is in the sideways trend zone.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Ethereum is in a bullish trend. The MACD lines are all bullish. Price of Ethereum is rising because the 12-day EMA and the 26-day EMA are above the price of the cryptocurrency. The MACD line and the signal line are above the zero line which indicates a buy signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.