ETH/USD
Medium-term Trend: Bearish
Resistance Levels: $240,
$260, $280
Support Levels: $170, $160, $150
Support Levels: $170, $160, $150
Yesterday, November 14, the
price of Ethereum was in a bearish trend. Price was fluctuating at the $210
price level before the bearish breakout. The crypto's price was resisted by the
12-day EMA and it is approaching the $180 price level. The digital currency has
reached its oversold region, therefore traders should look out for buy setups
so as to initiate long trades.
This will enable traders to
earn partial profits as the crypto's price commences its bullish trend.
Meanwhile, the MACD line and the signal line are below the zero line which
indicates a sell signal. The crypto’s price is below the 12-day EMA and the
26-day EMA which indicate that price is in the bearish trend zone.
ETH/USD Short-term Trend: Bearish
On the 1-hour chart, the
crypto’s price is in a bearish trend. The crypto's price fell to the low of
$182.05 and price is ranging at that price level. The crypto’s price is now
below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish
trend zone. 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.
Source: www.bitcoinexchangeguide.com
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