ETHUSD Medium-term Trend: Bullish
Resistance: $760, $750, $740
Support: $690, $700, $710
The ETHUSD pair was in a ranging market
yesterday. Price of the asset was ranging from the resistance level at $700 to
the support level at $650. The MACD line and the signal line are below the zero
line. Today, the ETHUSD pair is currently trading at $716.13 as at the time of
writing. However, from the weekly chart, the price of the asset has broken the
resistance level at $700.
The price of the asset may likely
reach the highs of $750 and $800. Meanwhile, the MACD line and the signal line
are above the zero line indicating that price of the asset is bullish. The price
bars are above the 12-day EMA and 26-day EMA indicating that the current trend
is ongoing. Traders have a buy signal because the MACD line crosses above the
signal line.
ETHUSD Short-term trend: Bullish
In the daily chart, price of
Ethereum is in a bullish market. From the chart, the price of the asset had
been in a range bound movement for days before it encounters a bullish movement
to the high of $720. A positive histogram shows as soon as the MACD line
crosses above the signal line indicating a buy 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.
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