Yesterday, January 28, the price of Ethereum was in a bearish trend zone. The crypto’s price fell to the low of $105 and commenced a bullish movement. It was earlier suggested that if the bearish trend continued and the bulls broke the $100 price level, the price of Ethereum would find support at the $85 price level. Today, the $100 price level is holding and  ETH price  is in a bullish movement to the 12-day EMA and the 26-day EMA.

The ETH price is going to be resisted at the EMAs because the crypto’s price is below the EMAs. On the upside, if the bulls break above the EMAs and crypto’s price is sustained above it; then the ETH price will resume its uptrend movement. Meanwhile, the MACD line and the signal line are below the zero lone which indicates a sell signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

On the 1-hour chart, the crypto's price is in a bearish trend zone. On January 27, the bears broke the 12-day EMA and the 26-day EMA as the price fell to the low of $104.80.The crypto's price made a bullish movement ane tested the 26-day EMA . The candlesticks are testing the EMAs and are being resisted by the moving averages.

Meanwhile, the MACD line and the signal are below the zero line which indicates a sell signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

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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