ETH/USD Medium-term Trend: Bearish

Resistance Levels: $240, $250, $280
Support Levels: $80, $70, $60

Yesterday, December 13, the price of Ethereum was in a bearish trend. The bulls were making an initial bullish movement to break the 12-day EMA and the 26-day EMA before they were resisted by the 26-day EMA. The crypto fell to the low of $86.66 but pulled back to the high of $88.66. The price of Ethereum fell to its previous support level of $85.

Price has tested this level on December 7 and December 8 without breaking it. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of ETH is below 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone.

On the 1-hour chart, the crypto's price is in a bearish trend. Yesterday, the crypto's price was moving in a range bound movement above the $91 price level. The 12-day EMA and the 26-day EMA were horizontally flat.

At a price of $ 92, the crypto's price broke the 12-day EMA, the 26-day EMA and fell to the low of $86.51 and it commenced a range bound movement. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the crypto’s price is below 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone.

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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