ETH/USD
Long-term Trend: Bullish
·
Resistance Levels: $320, $340, $360
·
Support Levels: $300, $280, $260
The ETH/USD pair is now in a bullish trend. In
retrospect, the price of Ethereum had been in a sideways trend trading between
the levels of $220 and $280 for a month. On June 21, the bulls broke the $280
overhead resistance and reached the high of $315. From the chart, on June 26,
the bulls tested the $360 price level and were resisted.
The ETH market was on a
downward correction to the support of the 12-day EMA. The 12-day EMA support
level was holding as the bulls make an upward move to the previous highs. The
ETH price is above the 12-day EMA and the 26-day EMA which indicates that price
is likely to rise.
On the other
hand, if the bears break below the EMAs, the crypto’s price will fall to the
low of $240 price level. On June 1, the ETH price has an opening balance of
$267 and closing balance of $308 as at June 28. The price of Ethereum
appreciated by 15% of its capilisazation in the month of June 2019. From the
Fibonacci tool, the ETH price is in the downtrend zone of 0.50 Fib retracement
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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