Posted In: Forex Trading Posted On: 2018/06/28 12:21 PM Posted By: ituglobal
ETH/USD Medium-term Trend: Bearish
Resistance Levels : $440, $445, $450
Support Levels: $430, $425, $420
Yesterday, June 27, price of Ethereum was on a downward trend. Today, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price of Ethereum which indicates that the bearish trend is ongoing.Yesterday, the bulls had resisted the bears at the price of $420, that was why price was in a sideways trend.
The cryptoasset had been ranging between the levels of $460 and $420 since price fell to the low of $420. However, if that level at $420 had been broken, the cryptoasset would find support at $380.The relative strength index period 14 is level 38 which indicates that the market is nearing the oversold market condition suggesting bulls to take control of the market.
On the 1-hour chart, the price of Ethereum is in a bullish trend. The MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars of Ethereum are above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing
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