2019-1-16 09:23 |
Yesterday, January 15, the price of Ethereum was in a bearish trend zone. The bulls had taken price to the $134.50 price level when the crypto faced resistance at the $133 price level. Today the bears have broken the 12-day EMA and the 26-day EMA and price has fallen to the $121 price level.
Since the crypto’s price is below the 12-day EMA and the 26-day EMA, the ETH price may likely fall. The crypto’s price is likely to revisit the previous low of $116.79. Meanwhile, the stochastic is out the overbought region but above the 20% range which indicates that Ethereum is in a bullish momentum and a buy signal. The MACD line and the signal is below the zero line which indicates a sell signal.
ETH/USD Short-term Trend: BearishOn the 1-hour chart, the crypto's price is in the bearish trend zone. Yesterday, the crypto’s price fell to $118.19 and commenced a bullish movement to the 12-day EMA and the 26-day EMA. The crypto’s price is below the EMAs, trading at the $123.04 price level.
The price of Ethereum is expected to fall because it is in the bearish trend zone. The Stochastic is out of the oversold region but below the 80% range indicating that Ethereum is in a bullish momentum and 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.
Similar to Notcoin - Blum - Airdrops In 2024