Last week the price of Ethereum had been in a sideways trend. The crypto's price had been ranging above the $120 price level in the past one week. The 12-day EMA and the 26-day EMA are trending horizontally indicating the sideways trend. The crypto's price is trending above the EMAs which indicates that price is likely to rise.

On February 17, the ETH price reached and tested the $140 price but the price closed at $129.38. The $140 resistance level was the previous support level of December 30, 2018. The $140 support level was broken by the bears on January 10 which is now a resistance level. On the upside, the crypto's price is likely to rise if the price is sustained above the EMAs, and the bulls break the resistance levels of $130 and $140. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

On the 1-hour chart, the crypto's price is in a bullish trend zone. The ETH price is fluctuating above and below the 12-day EMA and the 26-day EMA. The crypto's price is characterized by small body candlesticks which described the indecision of buyers and sellers at the $120 price level.

The ETH price is likely to rise if we have more buyers above the $120 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicates that price is likely to rise.

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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