ETH/USD Medium-term Trend: Ranging
- Resistance Levels: $240, $250, $260
- Support Levels: $100, $90, $80
Yesterday, January 17, the price of Ethereum was in a bearish trend zone. The crypto had been in the bearish trend zone since January 15, 2019. Also, price of Ethereum had been fluctuating above the $120 price level since January 15, 2019.
On the downside, if the crypto’s price remains below the 12-day EMA and the 26-day EMA, the crypto’s price will fall or price will continue its range bound movement. On the upside, if the bulls break above the EMA, the crypto will reach the $130 price level. Meanwhile, the stochastic is out the oversold region but below the 80% range which indicates that Ethereum is in a bullish momentum and a buy signal.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto’s price is in the bullish trend zone. The bulls broke the 12-day EMA , the 26-day and reached the high of $127.32. The crypto’s price is retracing from the recent high to the EMAs. The Stochastic is in the oversold region but below the 20% range indicating that Ethereum is in a bearish momentum and a sell signal. The MACD line and the signal are above the zero line which indicates a buy signal.
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