·
Resistance Levels: $280, $300, $280
·
Support Levels: $200, $180, $160
Yesterday, July 23, the price
of Ethereum was in a range bound move below
the 12-day EMA and the 26-day EMA. On July 16, after the downward trend
correction at the $200 price level, the bulls made an upward move to break
above the EMAs. The bulls are facing resistance at the 12-day EMA.
On the upside, if the bulls
break above the EMAs, the crypto’s price will resume its bullish trend to
retest the $320 and $340 resistance level. On the other hand, if the bulls fail
to break the EMAs, the ETH price will continue to range below the EMAs.
Meanwhile, the MACD line and the signal line are below the zero line which
indicates a sell signal.
ETH/USD
Short-term Trend: Bullish
On the 1-hour chart, the
price of Ethereum is in a bullish trend. The 12-day EMA and the 26-day EMA are
pointing northward. On July 24, the bulls made an upward move to break above
the EMAs. The crypto's price is facing resistance at the $225 price level as
the price retraces to the support of the 12-day EMA. 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
No comments:
Post a Comment