2019-1-8 09:25 |
Yesterday, January 7, the price of Ethereum was in a bullish trend . The crypto’s price reached the high of $165 but was resisted. The price of Ethereum has fallen and broken below the 12-day EMA and the 26-day EMA. It is likely that if the bearish pressure continued and the $150 price level would be broken, and the crypto’s price may fall to the lows of $135 and $140 price levels.
Meanwhile, the stochastic indicator is in the oversold region but below the 20% range .This implies that Ethereum is in a strong bearish momentum and a sell signal. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
ETH/USD Short-term Trend: BearishOn the 1-hour chart, the crypto's price is in a bearish trend zone. On December 7, the crypto’s price broke below the 12-day EMA, the 26-day EMA and it fell to the low of $153.16. The Stochastic is in the oversold region but below the 20% range indicating that Ethereum is in a bearish momentum and a sell signal. However, since the crypto’s price is below the 12-day EMA and the 26-day EMA, the crypto is likely to continue its 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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