ETHUSD Medium-term Trend: Bullish
- Resistance Levels: $230, $240, $250
- Support Levels: $100, $90, $80
The price of Ethereum is still in a bullish trend as price approaches the $120 resistance level. The crypto had earlier broken the 12-day EMA, 26-day EMA and the $100 resistance level to reach the bullish trend zone. The 12-day EMA and the 26-day EMA are pointing northward indicating a bullish trend. The crypto's price is approaching the price at $120 but may face resistance at that price level.
If the bulls break through the $120 resistance, the crypto is likely to reach the high of $200. On the other hand, if the bulls were resisted at the $120 price level, the price of Ethereum will find support a $110. Meanwhile, the Stochastic indicator is approaching the range below 80%. This indicates that Ethereum is in a bullish momentum and a buy signal after several weeks in the oversold region.
ETHUSD Short-term Trend: Bullish
On the short-term trend, the price of Ethereum is in a bullish trend. The price of Ethereum is making a series of higher highs and higher lows. The exponential moving averages are pointing in the direction of the bullish trend. The crypto's price is attempting to break the $120 price level.The stochastic bands are in the overbought region above the 80% range.
The price of Ethereum is now in a strong bullish momentum and a buy signal. The bullish momentum will continue as long as the stochastic bands are in the overbought region.
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