ETH/USD
Long-term Trend: Ranging
·
Resistance Levels: $300, $320, $340
·
Support Levels: $280, $260, $240
The ETH/USD pair is now in a
bullish trend. In the last one month, the price of Ethereum had been trading
between the levels of $220 and $280. The bulls had made several attempts to
break out this range but to no avail. On June 21, the bulls broke the $280
upper price range and reached the previous high of $315 price level.
The 12-day EMA and the 26-day
EMA are trending northward indicating an uptrend. A trend line has been
drawn to determine the duration of the bullish trend. If a bullish trend is
ongoing, the candlestick will test the trend line and make an upward move to
the previous highs or new highs.
eETH/USD pair is still in a
bullish trend. However, if price breaks the trend line and another candlestick
closes on the opposite of it; the bullish trend is said to be terminated. The
ETH price is expected to reach a high of $340 price level. Meanwhile, the MACD
line and the signal line are above the zero line which indicates a buy 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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