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.
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.
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