Ethereum Chart By Trading View
ETHUSD Medium-term Trend: Bearish
- Resistance Levels: $230, $240, $250
- Support Levels: $140, $130, $120
Last week, the ETHUSD pair was in a bullish trend. The crypto’s price reached a high of $163.78. The following day, the bears tested the $170 price level and immediately pulled the back price to the low of $135.20. The bears broke the 12-day EMA but found support at the 26-day EMA. The crypto’s price is neither in the bullish trend zone nor in the bearish trend zone which indicates that the price is likely to fluctuate.
The ETH price is expected to fluctuate between the levels of $130 and $160 for some days. Nevertheless, if the bears break the $130 price level, the crypto’s price will further depreciate. Meanwhile, the stochastic band is out of the overbought region and below the 80% range which indicates that the price is in a bearish momentum and a sell signal.
ETHUSD Short-term Trend: Bearish
Ethereum Chart By Trading View
On the 4-hour chart, the price of Ethereum is in a bearish trend. On February 24, the bulls reached a high of $170 but the bears pulled the price to the low of $135.20. The bears broke the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend zone. In other words, the ETH price is likely to fall.
Nevertheless, at the $130 support level the crypto’s price is ranging above it. The ETH price is likely to have a price breakout or price breakdown after the range bound movement.The stochastic is in the oversold region but below the 20% range which indicates that the price is in a strong bearish momentum and a sell signal.
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