ETHUSD Long-term Trend – Ranging
- Distribution territories: $180, $200, $220
- Accumulation territories: $100, $80, $60
Ethereum’s price, on February 24, went down significantly after going over the $160 mark. The drop saw it dip below $140. Over the next few days, ETH has been ranging below said mark, and between its two SMAs.
Ethereum’s 14-day SMA is located above the 50-day SMA, which is at $120. The Stochastic Oscillators are within ranges 40 and 20, showing the crypto may keep on seeing ranging movements in the near future.
Ethereum is currently within a well-defined range between $120 and $140 – where its SMAs are – which means the bulls may find a decent entry point between the $140 and $100 territories, especially if a correction occurs.
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