Yesterday, January 31, the price of Ethereum was in the bullish trend zone. Yesterday, the bulls reached the highs of $113.88 and were resisted. It was earlier suggested that the price of Ethereum may rise but may face resistance at the $120 price level. The bears have broken the 12-day EMA and the 26-day EMA to reach the bearish trend zone. The ETH price is now trading at $105.05 in the bearish trend zone.

The $100 price level had been holding since January 15, 2019. On the downside, if the bears break the $100 price level, the crypto will find support at the $85 price level. On the upside, the bulls will  have to break above the EMAs for the crypto to resume its bullish trend. Meanwhile, the stochastic is out of the overbought region but below 40% range. This indicates that the ETH is in a bearish momentum and a sell signal. Also, the ETH price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

On the 1-hour chart, the crypto's price is in a bearish trend zone. Yesterday, the bears broke the EMAs to reach the bearish trend zone. Today the ETH price is falling and may break the $100 price level. If it does, Ethereum will sink to the lower price levels.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

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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