2019-1-24 10:27 |
Yesterday, January 23, the price of Ethereum was in a bearish trend zone. The ETH price was trading at the $120 price level while in the bearish trend zone. Today, the crypto’s price is falling because of the resistance by the EMAs, as the bulls made attempt to break above the EMAs.
On the upside, the bulls have to break above the EMAs and the price has to be sustained. If it does, the crypto will reach the highs of $130 and $150 price levels. Meanwhile, the MACD line and the signal line are below the zero lone 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. The crypto’s price fell to the $118 price level and made a bullish movement. The price reached the 12-day EMA and was resisted again, the crypto is falling and may likely test the previous low of $116.
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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