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ETH/USD Medium-term Trend: Bullish
- Resistance Levels: $240, $250, $260
- Support Levels: $120, $110, $100
Yesterday, January 14, the price of Ethereum was in a bullish trend zone. The crypto’s price fell to the low of $116.79 and commenced a bullish movement to the 12-day EMA and the 26-day EMA. Today, the crypto’s price is above the EMAs and it is ranging above the $131.85 price level. The crypto’s price is expected to rise because the price is in the bullish trend zone.
Meanwhile, the stochastic is in the overbought region below the 80% range which indicates that Ethereum is in a bullish momentum and a buy signal. The MACD line and the signal line is above the zero line which indicates a buy signal.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto's price is in the bullish trend zone. Yesterday, the crypto’s price fell to $118.19 and commenced a bullish movement to the 12-day EMA and the 26-day EMA. The crypto’s price is now above the EMAs, ranging above the $131.85 price level.
The price of Ethereum is expected to rise because it is in the bullish trend zone. The Stochastic is out of the overbought region but above the 20% range indicating that Ethereum is in a bullish momentum and a buy signal.
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Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.