2019-2-2 09:00 |
ETH/USD Long-term Trend: Bearish Resistance Levels: $350, $370, $390 Support Levels: $100, $80, $60
The ETH/USD pair is currently in a bearish trend zone. The ETH price has an opening balance of $136 and a closing balance of $108.49 as at January 31. The crypto has depreciated by 20% of its capitalization in the month of January 2019. On January 6, the bulls took price to the high of $165.86 but were resisted.
On January 10, the bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $129.50. The crypto has been under the bear control, as the price fell to the low of $109.14. The bulls have not been able to break above the EMAs. And the 12-day EMA acted as a resistance to the price of Ethereum.
On the upside, the bulls have to break above the EMA and the price sustained above it. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The crypto’s price 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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