2019-2-19 10:19 |
The Bullish trend of the price of Ethereum is ongoing. The ETH price is approaching the $150 price level but may face resistance at the $160 price level.
ETH/USD Medium-term Trend: Ranging Resistance Levels: $240, $250, $260 Support Levels: $100, $90, $80Yesterday, February 18, the price of Ethereum was in a bullish trend. The crypto's price is making a series of higher highs and higher lows. Yesterday the bulls broke the $140 resistance level as the crypto targets the previous high of $160 price level. The current bullish trend is ongoing as price approaches the $150 price level.
A bullish trend is said to be terminated if the trend line is broken and the following candlestick closed on the opposite of it. Traders ought to have initiated long trades above the $120 price level in an anticipation of a bullish trend. 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.
ETH/USD Short-term Trend: BullishOn the 1-hour chart, the crypto's price is in a bullish trend zone. The ETH price is in a smooth uptrend as price makes a series of higher highs and higher lows. The 12-day EMA and the 26-day EMA were trending northward. A bearish candlestick is retracing from the recent high and has found support at the 12-day EMA.
However, another bullish candlestick has commenced a bullish movement at the support of the 12-day EMA. Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicate 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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