ETH/USD
Medium-term Trend: Bearish
Resistance Levels: $240,
$250, $280
Support Levels: $100, $90, $80
Support Levels: $100, $90, $80
Last week the price of
Ethereum was in a bearish trend. The digital currency was below the 12-day EMA
and the 26-day EMA which indicated that price was going to fall. On November
19, the crypto's price was resisted by the 12-day EMA and price fell in a downward
trend.
The digital currency fell to
the low of $107.57 but the crypto's price was still within the bearish trend
zone. Today, price is making a bullish movement from its low but may face
resistance at the 12-day EMA. Meanwhile, the MACD line and the signal line are
below the zero line which indicates a sell signal.
Price is likely to remain
bearish as long as the crypto is below the 12-day EMA and the 26-day EMA.
ETH/USD
Short-term Trend: Ranging
On the 1-hour chart, the
crypto's price is in a sideways trend. On November 25, the digital currency
fell to the low of $103.58 and commenced a bullish movement. The bullish
candlestick broke the 12-day EMA and the 26-day EMA indicating that price is
rising. The 12-day EMA now provides support for the digital currency.
If price breaks the
26-day EMA and remains above it, the crypto is likely to rise. But if it fell
below the 26-day EMA, the crypto is likely to continue its downtrend trend.
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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