Ethereum (ETH) Long-term Price Analysis –– April 13

  • The cryptocurrency’s price is now moving between $180 and $160, and could dip to test the $140 level.
  • If the bulls fail to help Ethereum grow the crypto may drop to its 50-day SMA.

ETHUSD Long-term Trend – Ranging

  • Distribution territories: $200, $220, $240
  • Accumulation territories: $120, $100, $80

The price of Ethereum has been seeing lower lows in its price movements after its surge over the $180 mark on April 8. The cryptocurrency’s price is now moving between $180 and $160, and could dip to test the $140 level.

Ethereum, ETHUSDEthereum Chart by TradingView

ETH’s 14-day SMA has been trading within its range for some time, while the 50-day SMA is acting as a support at the $140 mark. The Stochastic Oscillators are within ranges 80 and 60, showing the bulls have lost part of their strength in the market, although ETH is still trading close to April 2’s high.

By now, they’re expected to recover and see the crypto’s price trend higher again. If they fail the crypto may drop to its 50-day SMA.

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