ETHUSD Medium-term Trend: Ranging
- Resistance Levels: $230, $240, $250
- Support Levels: $130, $120, $110
Last week, the price of Ethereum was in a trend moving sideways as the crypto's price was being resisted at $140 level. The 12-day EMA and the 26-day EMA were trending horizontally below said price level, indicating the sideways trend.
Since February 24, the bulls have been facing resistance at the $140 mark. On March 16, they reached a high of $143.79 but were resisted as the price fell soon after. Ethereum is currently trading at little over $135.
If the bears break below the EMAs the crypto's price will fall to $135. The Stochastic Oscillators are out of the overbought region but below 60, which indicates Ethereum is in a bearish trend and is a sell signal.
ETHUSD Short-term Trend: Bearish
On the 4-hour chart, the price of Ethereum is in a bearish trend. On March 14, the bulls broke the 12-day EMA and the 26-day EMA to see the price reach $145.45. However, ETH faces resistance and on March 21, the bears finally broke the EMAs to see the price fall to $137.06.
The Stochastic indicator is at the oversold region but below 40. This indicates Ethereum’s price is in a bearish momentum and is a sell signal.
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