Yesterday, January 30, the price of Ethereum was in a bullish trend zone. On January 28, the ETH price fell to the low of $105.71 and began a range bound movement above the $100 price level. On January 30, the bulls break the 12-day EMA, the 26-day EMA and the crypto reached the bullish trend zone. Traders should initiate long trades in anticipation of a bullish trend.

The crypto is likely to rise but may face resistance at the $120 price level. Meanwhile, the stochastic is in the overbought region but above 80% range. This indicates that the ETH is in a strong bullish momentum and a buy signal. Also, the ETH 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. On January 30, the crypto’s price fell to the low of $105.71 and commenced a bullish movement. The bulls break the 12-day EMA, the 26-day EMA and the crypto remained above the EMAs.

The crypto’s price is trading at $112.82 but the bears pulled back price as at the time of writing. 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.

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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