2018-11-12 08:38 |
Resistance Levels: $240, $260, $280
Support Levels: $210, $190, $170
Last week the price of Ethereum was in a bullish trend. On November 5, at the support level of $208, the crypto's price reached a high of $225.12 in a bullish trend. The digital currency faced resistance at the price of $220 and it fell in a downward trend. The crypto fell to the low of $210.98 and commenced a bullish movement. On November 9, the crypto made another bullish movement to the high of $217.45.
The bullish trend was reversed by a gravestone Doji candlestick and price fell to the low $210.55. The crypto’s price is currently in a bullish trend and it is likely to rise. The digital currency is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Traders should initiate long orders as price is now in a bullish trend so as to earn partial profits.
ETH/USD Short-term Trend: RangingOn the 1-hour chart, the digital currency is in a bullish trend. The crypto’s price is now above the 12-day EMA and the 26-day EMA indicating that price is likely to rise. The MACD line and the signal line are below the zero line which indicates a sell 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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