ETH/USD Medium-term Trend: Ranging

Resistance Levels: $470, $480, $490
Support Levels: $450, $440, $430

Yesterday, July 26th, the price of Ethereum was still fluctuating between the levels of $480 and $440. The cryptocurrency has fallen to the low of $462.37. Since the digital asset is range bound, it might reach the low of $440 and make a bullish movement. Traders should initiate long trades if the price gets to the low of $440 and a stop loss below the support level.

Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Ethereum 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 43 which indicates that price is in the sideways trend zone.

On the 1-hour chart, price Ethereum is in a downward trend. 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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