ETH/USD
Long-term Trend: Bullish
·
Resistance Levels: $350, $370, $390
·
Support Levels: $140, $120, $100
The ETH/USD pair had been in
a bullish trend in the last five days. On March 5, the bulls break above the
12-day EMA, the 26-day EMA and it reached a high of $140 price level. In the
last four days, the bulls failed to break the $140 resistance level .
The
crypto’s price on the other hand is making a downward correction. On the
upside, the ETH price will rise if the bulls sustain a price above the EMAs.
The price of Ethereum is expected to rise to retest the $160 resistance level.
The $160 resistance level has remained unbroken since January 2.
On the downside, if the
bears break below the EMAs during the downward correction, the crypto’s price
will be in the bearish trend zone. Meanwhile, the MACD line and the signal line
are above the zero line which indicates a buy signal. The crypto’s price is
above the 12-day EMA and the 26-day EMA which indicates that price is in the
bullish 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: https://bitcoinexchangeguide.com
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