2018-10-10 10:17 |
Resistance Levels: $260, $280, $300
Support Levels: $200, $180, $160
Yesterday, October 9, the price of Ethereum was in a bearish trend. The digital currency is continuing with its bearish trend. The ETH price is approaching the critical support level of price . If price breaks the $200 price level, then traders should look out for buy setups so as to initiate long trades. This is done in anticipation of a bullish trend.
The critical support level of the digital currency may face resistance because it is the lower level of price range. Meanwhile, 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 price is in the bearish trend zone.
ETH/USD Short-term Trend: BearishOn the 1-hour chart, the price of Ethereum is in a bearish trend. The ETH price is falling and approaching the price at $225. The Relative Strength Index period 14 is level 34 which indicates that the market is oversold signaling bear's exhaustion and suggesting bulls to take control of market!.
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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