Resistance Levels: $280, $290, $300
Support Levels: $240, $230, $220

Yesterday, August 13th, the ETH price was in a sideways trend. While in the sideways trend the cryptocurrency fell from the high of $318.70 to the low of $ 287.96. Today, the bearish pressure continued as the cryptocurrency fell to the low of $265.15 as at the time of writing. There are indications that the ETH price may revisit previous low of $250. There is no recommendation for long trades as the bearish pressure is ongoing.

Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of ETH is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The Relative Strength Index period 14 is level 14 which indicates that the market is oversold suggesting bulls to take control of the market.

On the 1-hour chart, the ETH price is in a bearish trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price of Ethereum is below the 26-day EMA and the 12-day EMA which indicates that a bearish trend is ongoing.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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