ETH/USD Medium-term Trend: Ranging
- Resistance Levels: $240, $250, $280
- Support Levels: $150, $130, $110
Yesterday, January 8, the price of Ethereum was in a bearish trend zone. The crypto’s price is ranging above the $150 price level, after the resistance at the $165 price level. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. If the $150 price level is broken by the bears, the crypto’s price may fall to the lows of $135 and $140 price levels.
On the upside, the ETH price may break above the EMAs and revisit the $165 price level. Meanwhile, the stochastic indicator is above the 40% range which indicates that Ethereum is in a bullish momentum and a buy signal. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
ETH/USD Short-term Trend: Ranging
On the 1-hour chart, the crypto's price is in the bullish trend zone. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates the likelihood of price falling.
The Stochastic is out of the oversold region but below the 40% range indicating that Ethereum is in a bearish momentum and a sell signal. The MACD line and the signal line are above the zero line which indicates a buy signal.
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