ETHUSD Medium-term Trend: Bullish
- Resistance Levels: $230, $240, $250
- Support Levels: $150, $140, $130
Yesterday, April 4, the price of Ethereum was in a bearish trend. On April 2, the ETH price had a price rally which made the crypto’s price to appreciate from a low at $143.15 to a high at $165.50. The following day, the price tested the $180 resistance level and it made a downward correction.
Today the bulls are in a bullish trend making a second attempt at the resistance level. The crypto’s price is above the EMAs which indicates that the price will rise. If the bulls break the $170 and $180 resistance levels, the crypto’s price will rise. Meanwhile, the stochastic band is at the overbought region but below the 80% range. This indicates that the price is in a bearish momentum and a sell signal.
ETHUSD Short-term Trend: Bullish
On the 4-hour chart, the price of Ethereum is in a bearish trend. The price of the Ethereum depreciated further after the price rally. Yesterday, the bears broke below the 12-day EMA and the 26-day EMA to a low at $156.30. The crypto’s price has been facing resistance at the $176 price level.
On April 3, the bulls tested the $176 resistance level and were resisted. The price retraced and resumed another bullish trend. The same day the bulls retested the resistance level and the bears broke the EMAs to the bearish trend zone. Today, the bulls have broken above the EMAs as the price is above the EMAs.
On the upside, if the bulls break the $176 resistance level, the crypto’s price will reach the previous high of $200. On the other hand, if the bulls fail to break the resistance level, the crypto’s price will fall. Meanwhile, the stochastic indicator is at the oversold region but above the 20% range which indicates that the crypto is in a bullish momentum and a buy signal.
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