ETH/USD
Medium-term Trend: Bearish
Resistance Levels: $240,
$250, $280
Support Levels: $100, $90, $80
Support Levels: $100, $90, $80
Yesterday, December 4, the
price of Ethereum was in a bearish trend. There had been no significant price
movement in the last 24 hours. The crypto's price is fluctuating below the
12-day EMA and all the price movements were resisted by the 12-day EMA. From
the daily chart, the digital currency was unable to break the 12-day EMA and
the 26-day EMA.
This indicates that the price
of Ethereum is not likely to rise. Meanwhile, the MACD line and the signal line
are below the zero line which indicates a sell signal. The price is Ethereum is
below the 12-day EMA and the 26-day EMA which indicates that price is in the
bearish trend zone. If the price tests the lower price level of $100 and the
level holds; traders should initiate long trades in anticipation.
ETH/USD Short-term Trend: Bearish
On the 1-hour chart, the
crypto's price is in a bearish trend. Today, the bullish trend broke 12-day EMA
and the 26-day EMA and commenced range bound movement above it. But the
crypto's price fell again below the EMAs which will result in the downtrend.
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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