ETH/USD Long-term Trend: Bullish
Resistance Levels: $350, $370, $390
Support Levels: $160, $140, $130
The ETH/USD pair is in the bullish trend zone. Yesterday, it was assumed that if the bulls break above the EMAs, the crypto’s price will rise to break the $176 resistance level. The crypto’s price has broken the $176 resistance level. Today, the bulls are approaching the $190 price level. On the upside, the crypto’s price retested the $190 resistance level and it is retracing.
On the downside, if the bulls failed to break the $190 resistance level, the crypto’s price will fall to the support of the EMAs for a bullish trend resumption. Presently, the price of Ethereum is trading at the $172.93 as at the time of writing. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.
Source: bitcoinexchangeguide.com