ETH/USD Long-term Trend: Bearish
Resistance Levels: $350, $370, $390
Support Levels: $160, $140, $240
The ETH/USD pair was in a bullish trend in the first week of November 2018. The crypto made a bullish movement to the high of $224.85. The 12-day EMA and the 26-day EMA are horizontally flat. At the lower time frame, the crypto broke the exponential moving averages (EMAs) and price fell to the low of $174.64. The crypto’s price has reached the oversold region of the market.
Traders are to look out for buy setups in order to initiate long trades in anticipation of a bullish trend. The crypto price is expected to rise as the price has reached the oversold region of the market. Meanwhile, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
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