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.

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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