ETHUSD Medium-term Trend: Bullish
- Resistance Levels: $230, $240, $250
- Support Levels: $150, $140, $130
Last week, April 1, the price of Ethereum was trading at $143. 20. The ETH price had been trading in a range between the levels of $140 and $145 since February 24. On April 2, the crypto had a price breakout and the crypto rally above the previous high of $165.50.
The price made a downward correction to a low at $158.66 and resumed another bullish trend. The crypto’s price is trading at $178.70 as at the time of writing. The crypto’s price is above the EMAs which indicates that the price is likely to rise. The price of Ethereum is likely to reach a high of $200 but may face resistance at the $180 price level.
Meanwhile, the stochastic band is at the overbought region but above the 60% range. This indicates that the price is in a bullish momentum and a buy signal.
ETHUSD Short-term Trend: Bullish
On the 4-hour chart, the price of Ethereum is in a bullish trend zone. On April 3, the bulls tested the $177 price level and were resisted. The price retraced and retested the resistance level the second time but was resisted again. The crypto’s price fell to the support of the 26-day EMA.
The bulls pulled above the EMAs and traded above the 12-day EMA. Today, the ETH price traded at the $185 price level but it is also facing resistance at the $180 price level. On the upside, if the bulls break the $180 price level the crypto’s price will reach the previous high of $200.
Meanwhile, the stochastic indicator is at the overbought region but below the 80% range which indicates that the crypto is in a 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.
