ETH/USD Medium-term Trend: Ranging
- Resistance Levels: $240, $250, $280
- Support Levels: $130, $120, $110
Last week the price of Ethereum was in a sideways trend. On December 28, the crypto’s price was in a bullish trend zone as the price reached the high of $142.15 and commenced a range bound movement below and above the $140 price level. The crypto’s price is likely to rise because it is above the 12-day EMA and the 26-day EMA.
If the bulls break above the $140 price level and sustain hold above it, the crypto will rise to reach the previous low of $150 and $160 price levels. On the downside, if the crypto’s price was resisted after the range bound movement, the ETH will fall to the lows of $130 and $120 price levels.
ETH/USD Short-term Trend: Ranging
On the 1-hour chart, the crypto’s price was in a sideways trend. The ETH price is above the 12-day EMA and the 26-day EMA but currently falling and breaking the EMAs to the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the Stochastic is at the 20% range indicating that Ethereum is in the bullish momentum.
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