Last week the price of Ethereum was in a bearish trend zone. The bulls failed to break above the 12-day EMA and the 26-day EMA as the crypto traded below the $120 price level. The 12-day EMA and the 26-day EMA provides resistance to the crypto’s price. On January 26, the bulls reached the high of $122, but the bears pulled back price as the bears broke the EMAs to the low of $117.49.

Today, the crypto is in the bearish trend zone as the ETH continues its fall to the low of $109. On the downside, if the bearish trend continues, the crypto will find support at its previous low of $85. On the upside, the bulls have to break above the EMAs and the crypto’s price is sustained above it . Meanwhile, the MACD line and the signal line are below the zero lone which indicates a sell signal.

On the 1-hour chart, the crypto's price is in a bearish trend zone. The 12-day EMA and the 26-day EMA are pointing southward indicating that price is falling. The 12-day EMA provides resistance to the crypto’s price. On January 27, the bears were resisted by the 12-day EMA as the price fell to its current low at $109.42. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell 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.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

164 +