Yesterday, December 20, the price of Ethereum was in a bullish trend. The 12-day EMA provides as a support for the price of Ethereum. The 12-day EMA has been used as a support as price makes a series of higher highs and higher lows. On the upside, the crypto's price is expected at the $120 price level but may face resistance at that level.

On the downside, if the crypto failed to break the $120 price level, Ethereum will fall and commence a range bound movement. Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. 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 was in a bullish trend. The crypto’s price is likely to rise because the price is above the 12-day EMA and the 26-day EMA. The Stochastic is in the range above the 20% range which indicates that Ethereum has a bearish momentum and a sell signal. Nevertheless, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. Also, the MACD line and the signal line are above the zero line which indicates a buy 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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