Ethereum Chart By Trading View
ETHUSD Medium-term Trend: Ranging
- Resistance Levels: $230, $240, $250
- Support Levels: $70, $60, $50
The ETHUSD pair is in a sideways trend. The price of Ethereum had been ranging above $87 price level in the last 14 days. The appearance of small body candlesticks like Doji and Spinning tops are responsible for the range bound movement.That is the bulls and the bears are undecided about where the price is going.The appearance of large candlesticks will break the range bound movement.
Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that the bears will have the upper hand.
ETHUSD Short-term Trend: Ranging
On the short-term trend, the price of Ethereum is in a sideways trend. Since December 7, the cryptocurrency had been trading between the levels of $$85 and $100 in a tight range. The crypto’s price has tested once the upper and the lower price level. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that the price of Ethereum is likely to fall.
If the bears break the lower price level in the near future, the crypto will find support below the $60 and $70 price levels. On the upside, the bulls may face resistance at the $102 price level.
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