Resistance Levels: $330, $340, $350
Support Levels: $300, $290, $280

Last week the price of Ethereum was bearish. Price was above the $400 price level. The bears took price to the low of $306.66 on August 11. The bulls brought the price to the high of $325.34 and the digital currency commenced a sideways trend. Today, the ETH price is currently at a price of $319.16 in a sideways trend as at the time of writing. Price of Ethereum is likely to rise therefore traders should look out for buy setups to initiate long trades.

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 31 which indicates that the market is oversold suggesting bulls to take control of the market.

On the 1-hour chart, the price of Ethereum is in a sideways trend. The MACD line and the signal line are below the zero line which indicates a sell signal. Price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that price is falling.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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