Ethereum, ETHUSDEthereum Chart By TradingView

ETHUSD Medium-term Trend: Bullish

  • Resistance Levels: $230, $240, $250
  • Support Levels: $130, $120, $110   

Last week, March 5, the price of Ethereum was in a bullish trend. The bulls broke the 12-day EMA and the 26-day EMA as the crypto’s price reached the bullish trend zone. The ETH price reached a high of $140 but was resisted. The bulls failed to break the $140 resistance level as the crypto’s price falls.

The ETH price fell below the EMAs which indicates that the crypto’s price will further depreciate. On the downside, if the bearish trend continues, the crypto’s price will fall to the previous low at $128.39.  However, the ETH price is approaching the $134 support level where buyers are likely to defend that level.

On the upside, if buyers defend the $134 price level, the crypto will rise to break above the EMAs. Meanwhile, the stochastic band is out of the oversold region but above the 40% range. This indicates that the price is in a bullish momentum and a buy signal.

ETHUSD Short-term Trend: Bearish         

Ethereum, ETHUSDEthereum Chart By TradingView

On the 4-hour chart, the price of Ethereum is in the bearish trend zone. Today, March 11, the bears broke the 12-day EMA and the 26-day EMA as the crypto’s price fell to a low of $134.82 as at the time of writing. On the downside, if the bearish trend continues, the crypto’s price will reach the previous low at $127.50.

Nevertheless, the stochastic indicator is approaching of the oversold region but below the 40% range which indicates that the price is in a bearish momentum and a sell signal.

 

 

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