2019-1-4 09:06 |
Yesterday, January 3, the price of Ethereum was in a bearish trend. The crypto’s price retraced to the support of the 12-day EMA. The 12-day EMA is now supported as the crypto’s price makes a bullish movement. The crypto’s price has the tendency to rise because the price is in the bullish trend zone.
The ETH price is likely to retest the resistance at $160 price level. However, if the price breaks below the $150 price level, the crypto will fall. Meanwhile, the stochastic indicator is out of the overbought region but above the 20% range. This implies that Ethereum is in a bullish momentum and a buy signal. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
ETH/USD Short-term Trend: BullishOn the 1-hour chart, the crypto's price is in a bearish trend zone. The crypto’s price rose to the high of $153.98 and commenced a range bound movement at that price level. The crypto’s price is attempting to break above the 12-day EMA and the 26-day EMA.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The Stochastic is out of the oversold region but above the 80% range indicating that Ethereum is in a srong bullish momentum and a buy signal.
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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