ETHUSD Medium-term Trend: Bullish
- Resistance Levels: $230, $240, $250
- Support Levels: $130, $120, $100
Last week, price of Ethereum was in the bullish trend zone. On December 24, the crypto’s price reached the high of $163.50 but price pulled back to the low of $142.53. On December 27, the crypto’s price fell to the low of $118.57 and commenced a bullish movement. At the bullish trend zone, the 12-day EMA and the 26-day EMA acted as a support for the price of Ethereum.
The crypto’s price has the tendency to rise because the price is above the EMAs. The price of Ethereum is currently trading at $139.51 price level. If the bulls break the $140 price level, the crypto is likely to reach the highs of $145 and the $150 price levels. On the downside, if the bulls fail to break the $140 price, the crypto will find support at the $120 price level.
Meanwhile, the stochastic is approaching the overbought region near the 80% range which indicates that Ethereum is in strong bullish momentum and a buy signal.
ETHUSD Short-term Trend: Bullish
On the 4-hour chart, the price of Ethereum is in a bearish trend. Last week the price of Ethereum reached the high of $140.50 and it commenced a range bound movement above the EMAs. The crypto's price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.If the crypto’s price breaks below the EMAs to the downside, the ETH price is likely to fall.
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