Last week the price of Ethereum was in a bearish trend. On December 7, the downtrend ended and fell to the low of $87.94. later, the crypto commenced a range bound movement which resulted in a bullish trend that broke the 12-day EMA and the 26-day EMA to the upside. Price is now falling as it faced resistance at the $100 price level.

If the crypto breaks the $100 price level, Ethereum will resume its uptrend. The ETH price is below 12-day EMA and the 26-day EMA indicating price is likely to fall. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.

On the 1-hour chart, the crypto's price is in a bearish trend. The crypto's price fell to the low of $85.54 and began fluctuating below and above the 12-day EMA and the 26-day EMA. Price is now below the EMAs indicating that price is likely to fall.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The Stochastic indicator is in the range below 20% which indicates that Ethereum has a bearish momentum and a sell 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.

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