ETHUSD Long-term Trend – Ranging

  • Distribution territories: $170, $190, $210
  • Accumulation territories: $110, $90, $70

Ethereum has been trading within a specific range for nearly a month now, around the $140 mark. The time the cryptocurrency made a notably short move over it was on March 16, although its SMAs are still located around it.

Ethereum, ETHUSDEthereum Chart by TradingView

Looking at the cryptocurrency we can see it’s trading within a specific range, between the $140 and $120 marks. The Stochastic Oscillators are currently pointing north at range 40.

Neither the bulls nor the bears have been able to push Ethereum’s price over its current range as they lack the strength to do so. While the bulls look unable to do so on the long run, some opportunities may come for the bears to take ETH down to the $110 accumulation territory.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.