ETHUSD Long-term Trend – Ranging
- Distribution territories: $180, $200, $220
- Accumulation territories: $100, $80, $60
Ethereum’s price is seeing various ups and downs, as it has been doing in the last few weeks. The cryptocurrency is trading between the $140 and $120 zones. On March 5, it managed to move up significantly while remaining within its range.
ETH’s 14-day SMA is located over its 50-day SMA, which itself is close to the lower limits of its range. The Stochastic Oscillators are seemingly trying to cross ranges 40 and 20, as two scenarios can occur in the long run: a breakout or a breakdown.
The bulls may soon gain momentum at the market’s 50-day SMA, meaning a decent buying set up should be considered.
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