ETH/USD
Long-term Trend: Bearish
·
Resistance Levels: $350, $360, $370
·
Support Levels: $110, $100, $90
The ETH/USD pair is currently
in the bearish trend zone. The ETH price has an opening balance of $136 in the
month of January 2019. The crypto was in a bullish trend as it reached the high
of $165.86. However, the ETH price fell because of the resistance at $162. On
January 10, the bears completed the bearish movement as the 12-day EMA and the
26-day EMA were broken and the price fell to the low of $129.50.
On January 13, the crypto depreciated further
to the low of $117.94. Today, the crypto is presently ranging below the EMAs.
The crypto is currently trading at $117.41 as at the time of writing. On the
downside, the crypto cannot rise above the $120 price level. On the
upside, the bulls have to break the EMAs and the price sustained to reach the highs
of $130 and $160. 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 indicates that price is in the bearish trend zone.
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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