ETH/USD Medium-term Trend: Ranging

Resistance Levels: $420, $440, $460
Support Levels: $400, $380, $360

Last week, the price of Ethereum had been in a sideways trend fluctuating between the levels of $480 and $420. The ETH price has broken the support level of the range bound zone. Today, the price of Ethereum has fallen to the low of $400.36 and had commenced another sideways trend .

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price bars of Ethereum are 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 44 which indicates that price is in the sideways trend zone.

On the 1-hour chart, the price of Ethereum is in a sideways trend. The MACD line and the signal line are above the zero line which indicates a buy signal. Price of Ethereum is rising because the price bars of Ethereum are above the 26-day EMA and 12-day EMA. If the price of Ethereum had fallen the support levels the support levels would have been breached.

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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