ETHUSD Medium-term Trend: Ranging
- Resistance Levels: $230, $240, $250
- Support Levels: $120, $110, $100
Last week the price of Ethereum was fluctuating above the $138 price level. On February 25, the bulls pushed ETH to a high of $140. The following day the crypto’s price made a downward correction. However, today, the bears have broken the 12-day EMA and the 26-day EMA to reach the bearish trend zone.
The crypto’s price is below the EMAs, which indicates that the price of Ethereum is likely to fall. The bears have broken the $130 price level, and the crypto could find support at the $120 price level. However, if the bears fail to break or test the $120 price level, the crypto will commence a range bound movement.
Meanwhile, the stochastic band is in the oversold region and below the 20% range which indicates that price is in a strong bearish momentum and a sell signal.
ETHUSD Short-term Trend: Ranging
On the 4-hour chart, the price of Ethereum is in a range bound movement. Last week the crypto’s price was in a range bound movement. The 12-day EMA and the 26-day EMA were trending horizontally along the crypto’s price bars. The crypto’s price is below which indicates that the price is in the bearish trend zone.
Nevertheless, the stochastic indicator confirmed that price is in the oversold region but below the 20% range which indicates that the price is in a strong bearish momentum and a sell signal.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
