ETH/USD Medium-term Trend: Bullish
Resistance Levels: $480, $490, $500
Support Levels: $440, $430, $420
Yesterday ,July 16,the price of Ethereum was in a bullish trend. The digital currency is approaching the previous high of $ 490. The cryptocurrency may face resistance at that level. Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal.
In addition, the price of Ethereum is above the 12-day EMA and the 26-day EMA which indicates the bullish trend is ongoing. The relative strength index period 14 is level 61 which indicates that price is in the bullish trend zone
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Ethereum is in a smooth uptrend. Price of the cryptocurrency is making a series of higher highs and higher lows.The MACD line and the signal line are above the zero line which indicates a buy signal. Price of Ethereum is rising because the price of Ethereum is above the 26-day EMA and 12-day EMA. The price Ethereum is making an attempt to reach the high of $490.58
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