ETHUSD Medium-term Trend: Ranging
- Resistance Levels: $230, $240, $250
- Support Levels: $100, $90, $80
The price of Ethereum is in a bullish trend zone. The ETH price is trading above the EMAs at the price of $124.60 as at the time of writing. On February 8 and 10, the bulls reached a high of $128.16 but were resisted at the price of $130.46. The bulls have not been able to break the resistance level at $130 since January 10.
This was the support level the bears broke which is now a resistance level for the bulls. From the daily chart, the ETH price is ranging below the $130 price level because of the resistance. On the upside, the crypto’s price is likely to rise if the price is sustained above the EMAs and the bulls break the $130 resistance level.
On the downside, it is not likely the bears will break below the EMAs. If it does the crypto will resume its downward trend. Meanwhile, the stochastic band is out of the overbought region but below the 80% range which indicates that price is in a bearish momentum and a sell signal.
ETHUSD Short-term Trend: Ranging
On the 4-hour chart, the price of Ethereum is in a sideways trend. The crypto’s price had been ranging above the 12-day EMA and the 26-day EMA. If the bears break below the EMAs, the crypto’s price will fall into the bearish trend zone. This will signal the resumption of a downward trend.
On the upside, the crypto's price is likely to rise, but the bulls will face resistance at the $130 price level. The stochastic is out of the oversold region but above the 20% rang .This indicates that the price is in a bullish momentum and a buy signal.
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