Yesterday, December 24, the price of Ethereum was in a bullish trend. The crypto’s price was above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. The crypto’s price was also trending on the 12–day EMA as a support level. Yesterday, it was envisaged that the crypto’s price is likely to reach the high of $200 price level but may face resistance at $150 and $180 price level.

Today the crypto’s price has fallen and broken the 12-day EMA and it is approaching the 26-day EMA. On the downside, if price breaks the $130 price level, the crypto will be in the bearish trend zone. Meanwhile, the Stochastic indicator is out of the overbought region and it is in the range below 20% which implies that Ethereum is in a bearish trend a sell signal.

On the 1-hour chart, the crypto's price is in a bearish trend. The crypto’s price has fallen and broken the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The price of Ethereum fell to the low of $128 price level and it appears will further depreciate. Meanwhile, the Stochastic is in the oversold region above the 20% range. This implies that Ethereum is in a bullish momentum and 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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