ETH/USD Medium-term Trend: Bullish
- Resistance Levels: $240, $250, $260
- Support Levels: $100, $90, $80
Yesterday, February 12, the price of Ethereum was in a sideways trend zone. This is the fifth day the cryptocurrency had been ranging above the $120 price level. The ETH price has retraced to the support of the 12-day EMA. The small body candlesticks are on the 12-day EMA preparatory to a price breakout.
On the upside, the crypto’s price is rising and if the bulls break the $130 price level, the ETH price is expected to reach a high of $160. On the other hand, if the bears break the EMAs, the crypto will be in the bearish trend zone. Then the tendency for its fall will be there . Meanwhile, the MACD line and the signal 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 likely to rise.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto’s price is in a bullish trend zone. Yesterday, the 12-day EMA and the 26-day EMA were trending horizontally. The crypto’s price was fluctuating below and above the EMAs. Today, the ETH price fell to a low of $121.13 and commenced a bullish movement above the EMAs. The crypto is trading at $125.41 as the time of writing.
If the bullish trend is sustained above the EMAs, the crypto will revisit the levels of $130 and $160. Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicates that price is likely to rise.
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