ETH/USD Medium-term Trend: Bullish
• Resistance Levels: $240, $250, $260
• Support Levels: $140, $130, $120
Yesterday, February 19, the price of Ethereum was in a bullish trend. The crypto’s price was trading at $151.68 when the crypto was resisted. The crypto was resisted at the $150 price level and the price fell to the support of the 12-day EMA. The bullish trend has been terminated but the ETH price is trading at $145.76 as at the time of writing.
On the upside, the crypto’s price will rise if crypto’s price is sustained above the EMAs while the bulls break the $150 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto’s price is in a bullish trend zone. The previous bullish trend has been terminated as price made a downward fall. The ETH price has fallen to the support of the $140 price level and the bulls are expected to defend the support level.
On the downside, if the bears break the $140 price level, the crypto will further depreciate.
Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is below the EMAs which indicate that price is likely to fall.
Source: bitcoinexchangeguide.com