ETH/USD
Medium-term Trend: Bearish
Resistance Levels: $200,
$220, $240
Support Levels: $160, $140, $120
Support Levels: $160, $140, $120
Yesterday, September 11, the
price of Ethereum was in a bearish trend. The price of Ethereum fell to the low
of $175.69. Today, the cryptocurrency is in a bearish trend. Price has broken
the major support level of $200. Price is likely to test the next support level
which is $160 price level.
If price reaches the next
support level, that would probably be the first low since the beginning of the
year.Nevertheless, the MACD line and the signal line are below the zero line
which indicates a sell signal. In addition, the price of Ethereum is below the
12-day EMA and the 26-day EMA which indicates that the bearish trend is
ongoing. The Relative Strength Index period 14 is level 22 which indicates that
the market is oversold suggesting bulls to take control of the market.
ETH/USD Short-term Trend: Bearish
On the 1-hour chart, the
price of Ethereum is in a bearish trend. Price of Ethereum is falling because
the 12-day EMA and the 26-day EMA are above the price of the cryptocurrency.
The MACD line and the signal line are below the zero line which indicates a
sell signal.
The views and opinions expressed here do not
reflect that of BitcoinExchangeGuide.com and do not constitute financial
advice. Always do your own research.
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