2019-1-21 09:35 |
Last week the price of Ethereum was both in the bearish and bullish trend zone. On January 18, the ETH price was in the bearish trend zone as the bulls broke the 12-day EMA, the 26-day EMA and price reached the high of $136.32. On January 19, the crypto’s price made a price retracement but the bears broke the 12-day EMA, the 26-day EMA and price fell to the $118.94.
In the previous analysis, it was assumed that if the bears broke the $120 price level, the crypto would further depreciate. Today the crypto’s price is below the EMAs; therefore Ethereum is likely to fall. Meanwhile, the MACD line and the signal line are below the zero lone which indicates a sell signal.
ETH/USD Short-term Trend: BullishOn the 1-hour chart, the crypto's price is in the bearish trend zone. On January 20, the bears broke the 12-day EMA, the 26-day EMA and price fell to $118.30. The crypto’s price is now in a range bound movement. Meanwhile, the crypto’s price is below the EMAs which indicate that Ethereum is likely to fall. The MACD line and the crypto’s price 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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