2018-12-15 10:16 |
ETH/USD Long-term Trend: Bearish
Resistance Levels: $350, $370, $390
Support Levels: $70, $50, $30
The ETH/USD pair had been in the bear market from the month of May to December 2018. The 12-day EMA and the 26-day EMA are trending southward. And the price of Ethereum is trading at $85.42 as at the time of writing. From the weekly chart, the Stochastic oscillator is in the oversold region and below the 20% range. This implies that the crypto’s price has a strong bearish momentum and a sell signal.
That is the crypto has the chance of further depreciation between the lows of $60 and $70.Meanwhile, the crypto's price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
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