Resistance Levels: $240, $250, $280
Support Levels: $150, $130, $110

Last week the price of Ethereum was in a bullish trend zone. The crypto’s price had tested the $160 resistance level to break the level but without success. Rather, the crypto had been ranging  above the 12-day EMA and the 26-day EMA and below the resistance level. On January 6, the price of Ethereum tested the resistance level and was repelled again.

Today, the crypto‘s price is currently retracing and approaching the 12-day EMA and the 26-day EMA. Meanwhile, the stochastic indicator is above the 40% range. This implies that Ethereum is in a bullish momentum and a buy signal. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

On the 1-hour chart, the crypto's price is in a bullish trend zone. The crypto’s price rose to the high of $165.86 and was resisted. The price is retracing and attempting to break below the 12-day EMA and the 26-day EMA. If the bears break below the EMAs the crypto will find support at $140 price level. The Stochastic is above the 20% 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.

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