2018-10-24 18:06 |
Resistance Levels: $240, $260, $280
Support Levels: $200, $180, $160
Yesterday, October 23, the ETH/USD pair was in a sideways trend. On the 4-hour chart, the crypto’s price was in the bearish trend zone and it was ranging above the $200 price level. On October 23, Ethereum fell from $206.56 to the low of $203.54 and commenced a bullish movement to the high of $206.55. This was how price was fluctuating above the $200 price level.
A breakout is imminent above the $200 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell 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: BullishOn the 1-hour chart, the price of Ethereum is in a bullish trend. Price is rising but it is being resisted at the $206 price level. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is rising. The MACD line and the signal line are above the zero line which indicates a buy 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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