ETH/USD Medium-term Trend: Ranging
Resistance Levels: $240, $260, $280
Support Levels: $200, $180, $160
Yesterday, September 18, the price of Ethereum was in a bullish trend. As the cryptocurrency fell to the low of $194.62, the price commenced a range bound movement. The $200 price level was supposed to be the major support level but was broken by price. Now at the support level, a bullish trend has risen and it is approaching the price at $212.24. The price of Ethereum is now in the previous range bound zone.
Today, if the bullish trend continued, the cryptocurrency would reach the upper level of price range which is the price at $ 280. Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of Ethereum is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing. The Relative Strength Index period 14 is level 53 which indicates that price is in the sideways trend zone.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Ethereum is in a bullish trend. On the short time frame, the price is above the 12-day EMA and the 26-day EMA which indicates that price rising. The MACD line and the signal line are above the zero line which indicates a buy signal.
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