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  • On the upside, if the bulls break the $190 resistance level, the price is likely to revisit the previous high of $240 price level.
  • On the other hand, if the bulls fail to break the resistance level, the ETH price will continue its range bound movement below the resistance level.

ETH/USD Long-term Trend: Ranging

  • Resistance Levels: $180, $200, $220
  • Support Levels: $160, $140, $130

The ETH/USD pair is in the bullish trend zone. The crypto’s price reached a high of $181 price level but the price was repelled at the $190 resistance zone. The price fell to the support of the 26-day EMA for a bullish trend resumption. The bulls initiated another move but were resisted at the $176 price level.

This resulted in the price falling below the 12-day EMA and the 26-day EMA to a low at $150 price level. The bulls defended the $150 support level as it initiated another bullish movement. On May 7, the bulls were resisted again at the $191 price level and the price fell to the support of the 12-day EMA. This has been the scenario since April 8. On the upside, if the bulls break the $190 resistance levl, the price is likely to revisit the previous high of $240 price level.

On the other hand, if the bulls fail to break the resistance level, the ETH price will continue its range bound movement below the resistance level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy 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.

(Excerpt) Read more Here | 2019-05-11 07:21:41

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