ETHUSD Long-term Trend – Ranging
- Distribution territories: $170, $190, $210
- Accumulation territories: $100, $80, $60
Ethereum’s price has in the long run seen its outlook remain ranging around the same zones. Currently, ETH is fluctuating around the $140 mark, and has been since the first few trading sessions of the week. The 14-day SMA is close to its price.
The cryptocurrency’s 50-day SMA is below the 14-day SMA. The Stochastic Oscillators are now close to range 60 and 40. Both the bears and the bulls are looking to get momentum to push te cryptocurrency away from its current zone, between the $140 and $120 areas.
Indicators seem to show the bulls may be able to find strength around the 50-day SMA’s line, which could see ETH rise to new highs. Traders can be looking out for a good buying set up around the indicator, or for a breakout around the $140 mark to enter a long position.
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