ETH/USD Long-term Trend: Bearish
• Resistance Levels: $350, $360, $370
• Support Levels: $110, $100, $90
The ETH/USD pair is currently in the bearish trend zone. The ETH price has an opening balance of $136 in the month of January 2019. The crypto was in a bullish trend as it reached the high of $165.86. However, the ETH price fell because of the resistance at $162. On January 10, the bears completed the bearish movement as the 12-day EMA and the 26-day EMA were broken and the price fell to the low of $129.50.
On January 13, the crypto depreciated further to the low of $117.94. Today, the crypto is presently ranging below the EMAs. The crypto is currently trading at $117.41 as at the time of writing. On the downside, the crypto cannot rise above the $120 price level. On the upside, the bulls have to break the EMAs and the price sustained to reach the highs of $130 and $160. 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 indicates that price is in the bearish trend zone.
Source: bitcoinexchangeguide.com