Resistance Levels: $240, $260, $280
Support Levels: $200, $180, $160

Yesterday, October 18, the price of Ethereum was in a sideways trend. On October 18, the digital currency fell to the low of $205 and commenced a range bound movement above the $200 price level. The $200 price level is the major support level for the price of Ethereum.

Therefore, the price is likely to be in a bullish trend. If the level holds, traders should initiate long trades above the $200 price level. Also, a stop loss order should be placed below the $200 price level. 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.

On the 1-hour chart, the price of Ethereum is in a bearish trend. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in a bearish trend zone. 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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