- The ETH price is trading at $135.83 as at the time of writing.
- Today, the bulls have broken the EMAs as the crypto’s price reached the high of $136.19 but the bears made a downward correction.
ETH/USD Medium-term Trend: Bearish
- Resistance Levels: $240, $250, $260
- Support Levels: $140, $130, $120
Yesterday, March 14, the price of Ethereum was in a bearish trend. Yesterday, a bearish trend line was drawn to determine the duration of the bearish trend. The assumption of the trend line tool is that if price breaks above the trend line and the following candlestick closes on the opposite of it; then we can assume that the current trend has been terminated.
From the chart, a bullish candlestick has broken the trend line and another closes above it. The price of Ethereum is in a bullish trend and the crypto’s price is likely to revisit the high of $140 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The ETH price is above the EMAs which indicate that price is in the bullish trend zone.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto’s price was in a sideways trend zone. Yesterday, the crypto’s price was ranging below and above the 12-day EMA and the 26-day EMA. Today, the bulls have broken the EMAs as the crypto’s price reached the high of $132.73 but the bears made a downward correction.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish 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.