ETH/USD Long-term Trend: Bearish
- Resistance Levels: $350, $370, $390
- Support Levels: $120, $100, $80
The ETH/USD pair was trading in a bearish trend zone in the month of January. The crypto’s price fell from a high of $136 to a low of $108.49. The bears broke the support level of $130 and price continued its fall to the low of $108. In the month of February, the bulls have taken control.
On February 8, the bulls broke the 12-day EMA and the 26-day EMA as the price reached the high of $127.37. The crypto’s price is expected to rise as the price is in the bullish trend zone. On February 13, the ETH price was resisted at a price of $130.46. The crypto’s price retraced and commenced a range bound movement.
The crypto’s price is expected to rise as the price is in the bullish trend zone. The crypto is expected to reach a high of $160 if the bulls break the resistance at $130. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. 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.
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