ETH/USD Medium-term Trend: Ranging
Resistance Levels: $240, $260, $280
Support Levels: $205, $200, $170
Yesterday, November 13, the price of Ethereum was in a bearish trend. The crypto’s price was fluctuating above the $200 price level when price slide down. The digital currency is still above the $200 price level despite its fall.
However, the crypto’s price is below the exponential moving averages (EMAs) which indicate that the digital currency is likely to fall. Today, the digital currency fell to the $209 price level and it is ranging above that level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
ETH/USD Short-term Trend: Ranging
On the 1-hour chart, the crypto’s price is in a bearish trend. On November 13, a bearish candlestick broke the 12-day EMA and the 26-day EMA to the low of $209 and commenced a range bound movement. The crypto’s price is now above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal. If the bearish trend continued support levels are likely to be breached.
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