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ETH/USD Medium-term Trend: Bearish
- Resistance Levels: $240, $250, $260
- Support Levels: $100, $90, $80
Yesterday, January 15, the price of Ethereum was in a bearish trend zone. The bulls had taken price to the $134.50 price level when the crypto faced resistance at the $133 price level. Today the bears have broken the 12-day EMA and the 26-day EMA and price has fallen to the $121 price level.
Since the crypto’s price is below the 12-day EMA and the 26-day EMA, the ETH price may likely fall. The crypto’s price is likely to revisit the previous low of $116.79. Meanwhile, the stochastic is out the overbought region but above the 20% range which indicates that Ethereum is in a bullish momentum and a buy signal. The MACD line and the signal is below the zero line which indicates a sell signal.
ETH/USD Short-term Trend: Bearish
On the 1-hour chart, the crypto's price is in the bearish 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 below the EMAs, trading at the $123.04 price level.
The price of Ethereum is expected to fall because it is in the bearish trend zone. The Stochastic is out of the oversold region but below the 80% range indicating that Ethereum is in a bullish momentum and a buy signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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.