ETH/USD Medium-term Trend: Bullish
- Resistance Levels: $240, $250, $280
- Support Levels: $130, $120, $110
Yesterday, December 25, the price of Ethereum was in a bullish trend. While in a bullish trend the crypto’s price broke the 12-day EMA, the 26-day EMA to the upside, and price remained above the EMAs. If the price remained above the $130 price level the crypto is likely to revisit the previous high of $160 price level.
On the downside, if price falls below the $130 price level , the crypto will find support at the $110 price level. Meanwhile, the Stochastic is out of the oversold region and it is in the range below the 80% which indicates Ethereum is in a bullish momentum and a buy signal.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the crypto’s price was in a bullish trend. Firstly, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. The crypto’s price will rise to meet up with the previous high of $160 price level.
Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. In addition, the stochastic is approaching the overbought region but below the 80% range which also indicates that the crypto is in a bullish momentum and a buy signal.
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