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ETH/USD Long-term Trend: Bearish
- Resistance Levels: $350, $370, $390
- Support Levels: $120, $100, $80
The price of Ethereum is currently in the bearish trend zone. The ETHUSD pair is trading above the $120 price level in the bearish trend zone. The ETH price is now below the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall. If the bears break the $120 price level, the crypto is likely to find support at the lows of $102 and the $110 price levels.
On the upside, the bulls are facing resistance at the $130 price level. If the bulls break the $130 price level, the crypto will reach the high of $160. Meanwhile, the stochastic is out of the oversold region but above the 60% range indicating that Ethereum is in a bullish momentum and a buy signal. The MACD line and the signal line are below the zero line which indicates a sell 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.
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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.