ETHUSD Medium-term Trend: Bearish
- Resistance Levels: $230, $240, $250
- Support Levels: $140, $130, $120
The ETHUSD pair was in a bearish trend zone yesterday. The crypto’s price has been in the bearish trend in the last three days. Today, the bulls are attempting to break the 12-day EMA or the $140 resistance level. On the upside, if the bulls break the EMAs, the crypto will be in the bullish trend zone. The ETH price will rise to revisit the previous high of $160 and $170 price levels.
The crypto is likely to face resistance at the $160 price level which was unbroken since January 3. On the downside, if the bulls fail to break the EMAs, the crypto will continue in its range bound movement. Meanwhile, the stochastic band is of out the overbought region but above the 40% range which indicates that the price is in a bullish momentum and a buy signal.
ETHUSD Short-term Trend: Bearish
On the 4-hour chart, the price of Ethereum is in a bearish trend. Yesterday, the ETH price was ranging below the 12-day EMA and the 26-day EMA. Today, the bulls have broken the 12-day EMA and it is approaching the 26-day EMA. If the bulls break the 26-day EMA, the crypto will reach a high of $150 price level.
The ETH price is trading at $142.27 as at the time of writing.The stochastic is out of the oversold region but above the 60% range which indicates that the price is in a bullish momentum and a buy signal.
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