ETH/USD Medium-term Trend: Bullish
- Resistance Levels: $240, $250, $260
- Support Levels: $100, $90, $80
Yesterday, February 11, the price of Ethereum was in a sideways trend zone. The crypto’s price is ranging above the $120 price level. The ETH price has retraced to the support of the 12-day EMA. The 12-day EMA provides support for the bullish trend. The bears are trying to break the 12-day EMA. On the downside, if the bears break the EMAs, the crypto will be in the bearish trend zone.
There is the likelihood that the price will fall. On the upside, if the bulls sustain a price above the EMAs the crypto’s price will rise. The ETH price is expected to reach a high of $160 but may face resistance at $128 price level. Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.
ETH/USD Short-term Trend: Ranging
On the 1-hour chart, the crypto's price is in a bullish trend zone. The 12-day EMA and the 26-day EMA are trending horizontally. The crypto’s pric is fluctuating below and above the EMAs. A bullish candlestick is attempting to break the EMAs.
If the bulls break the EMAs to reach the bullish trend, the crypto’s price is likely to rise. Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicates that price is likely to fall.
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