Ethereum Medium-term Trend: Bearish
Supply zones: $600, $650, $600
Demand zones: $400, $350, $300
Ethereum is in a bearish trend in the medium-term outlook. The bears pressure was strong as the critical demand zone of $500.00 was broken. Price went further down to $462.00 in the demand area. The daily opening candle is bearish and below the two EMAs crossover. The 10-day EMA acted as a strong resistance to price upward movement.
The stochastic oscillator is in the oversold region at 11 percent. It signals points down, suggesting a downward momentum in price movement. $450.00 in the demand area may likely be the bears' target in the medium-term
Ethereum short-term Trend: Bearish
Ethereum is bearish in the short-term outlook. The momentum was high as price was pushed down to $460.00 in the demand area. As the bears' pressure increases and more bearish candle formed below the10-day EMA, $460 in the demand area may be the bears' target in the short-term.
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