ETH/USD
Medium-term Trend: Ranging
Resistance Levels: $470,
$480, $490
Support Levels: $450, $440, $430
Last week the Ethereum price
was already in its sideways trend fluctuating between the levels of $480
and $440. The ETH price attempted to break the resistance level at $480 without
success but the price has fallen to the low of $469.11. Today, the cryptocurrency
will still continue its range bound movement. Trading becomes unnecessary
because price has no direction.
Meanwhile, the MACD line and
the signal line are at par with the zero line which indicates a neutral signal.
In addition, the price of Ethereum is neither below nor above the 12-day EMA
and the 26-day EMA which indicates that price is in the sideways trend. The
Relative Strength Index period 14 is level 50 which indicates that price is in
the sideways trend zone.
ETH/USD Short-term Trend: Ranging
On the 1-hour chart, price of Ethereum is in a
sideways trend. The MACD line and the signal line are at par with the zero line
which indicates a neutral signal. The price of Ethereum is neither below nor
above the 26-day EMA and the 12-day EMA which indicates that price is in a
sideways trend.
The views and opinions
expressed here do not reflect that of BitcoinExhangeGuide.com and do not
constitute financial advice. Always do your own research.
Source: www.bitcoinexchangeguide.com
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