ETH/USD Medium-term Trend: Bearish
Resistance Levels: $240, $250, $260
Support Levels: $150, $140, $130
Last week the price of Ethereum was in a bearish trend. The crypto’s price was fluctuating above the $200 price level when the price of Ethereum was resisted by the 12-day EMA. This resistance made the crypto to fall to the low of $178.18 and commenced another range bound movement. From the chart, the crypto’s price was resisted again by the 12-day EMA.
Price has fallen again to the low of $155. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicate that price is in the bearish trend zone.
ETH/USD Short-term Trend: Bearish
On the 1-hour chart, the digital currency is in a bearish trend. On November 15, the crypto fell to the low of $171.47 and pulled back to a high of $180.85 . Then commenced a range bound movement. The crypto’s price has been resisted by the EMAs which would make the digital currency to fall again. On the other hand, the crypto may respect the previous low and commenced a bullish movement.
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