Resistance Levels: $240, $250, $280
Support Levels: $120, $110, $100

Yesterday, November 22, the price of Ethereum was in a bearish trend. On November 22, a bearish candlestick was resisted by the 12-day EMA and price continued its range bound movement. Later the bears commenced their bearish movement. The digital currency may likely find support is $120.

Meanwhile, the price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Nevertheless, traders should exit their previous long trades as the price has resumed its bearish movement. There will be no trade recommendation until the bearish trend is exhausted.

On the 1-hour chart, the crypto's price is in a bearish trend. On November 23, the digital currency was resisted by the 12-day EMA and price resumed its bearish movement. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

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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