Ethereum (ETH) Daily Price Forecast – October 11

ETH/USD Medium-term Trend: Bearish

Resistance Levels: $260, $280, $300 Support Levels: $200, $180, $160

Yesterday, October 10, the price of Ethereum was in a bearish trend. Since the beginning of October, the bulls have succeeded in holding price above the $200 price level. Today, the bears have taken price from the high of $226.75 to the low of $199.41.

Price is likely to reach the previous low of $181.77. Traders are to look out for buy setups to initiate long trades in anticipation of a bullish trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

ETH/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Ethereum is in a bearish trend. Price is falling and the critical support level is being broken. The MACD line and the signal line are below the zero line which indicates a sell signal. The Relative Strength Index period 14 is level 18 which indicate that the market is oversold signaling bear’s exhaustion and suggesting bulls to take control of market.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

Publication date: 
10/11/2018 - 10:13