Ethereum Chart By Trading View
ETHUSD Medium-term Trend: Bearish
- Resistance Levels: $230, $240, $250
- Support Levels: $80, $70, $60
Last week the price of Ethereum was in a bearish trend. The bulls reached the high of $123 while in a bullish movement. On December 2, the bulls were resisted at the $120 price level and the crypto fell to the low of $91.27. Today, the crypto’s price is fluctuating above the $91 price level. As the price ranges a price breakout is imminent. If the bulls take price upward, they will face selling at the $100 price level.
On the other hand, if the bears break the range bound movement, the crypto’s price will find support at the $84 price level. Meanwhile, the price of Ethereum is below the 12-day EMA and the 26-day EMA indicating that the price is in the bearish trend zone. The Stochastic indicator is in the range above 20% which indicates a bullish momentum and a buy signal.
ETHUSD Short-term Trend: Bearish
Ethereum Chart By Trading View
On the short-term trend, the price of Ethereum was in a sideways trend. On December 7, the crypto’s price fell to the low of $83. Later, the crypto’s price was fluctuating below and above the 12-day EMA and the 26-day EMA. Today, the price is below the 12-day EMA and the 26-day EMA indicating that the price is likely to fall.
The Relative Strength index period 14 is level 44 which indicates that the price is in the sideways trend zone.
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