Yesterday, December 19, the price of Ethereum was in a bullish trend. The crypto’s price reached the high of $107.54 but it faced resistance at the $110 price level. Price is now retracing as a result of the resistance and it is approaching the 12-day EMA and the 26-day EMA. If the crypto’s price retraces and tests the EMAs, it may resume its uptrend movement.

On the other hand, if the crypto's price retraces and breaks the 12-day EMA and the 26-day EMA to the downside, it may resume its downtrend movement. Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The Stochastic is in the range above the 20% range which indicates that Ethereum has a bullish momentum and a buy signal.

On the 1-hour chart, the crypto's price was in a bullish trend. The ETH price fell below the 12-day EMA and the 26-day EMA and it is making a bullish movement out of the bearish trend zone. The Stochastic is in the range above the 20% range which indicates that Ethereum has a bullish momentum and a buy signal. The stochastic bands initially fell into the oversold region and made a U-turn.

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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