ETHUSD
Medium-term Trend: Ranging
Resistance: $760, $750,
$740
Support: $700, $710,
$720
Yesterday, May 14th the
overall trend of Ethereum was
bearish. The price of the asset had fallen from the highs of $830, $767 and
$735 as per the bearish trend line. However, at the time of writing, the MACD
line and the signal line were above the zero line indicating a buy signal. The
price bars of Ethereum were above the 12-day EMA and 26-day EMA indicating that
the bullish trend is ongoing.
It was assumed that if the support
level was broken, Ethereum would find support at $672. Today, Ethereum is
currently trading at $723.67 at the time of writing. From the weekly chart, the
price of the asset is above the $700 level. The asset is ranging from the
support level at $700 to the resistance level at $750. Today the indicators are
showing bullish signals. The MACD line and the signal line are above the zero line
indicating a buy signal.
The price bars of Ethereum were
above the 12-day EMA and 26-day EMA indicating that the bullish trend is
ongoing. Therefore the price is expected to test the resistance level at $750
and reach further highs.
ETHUSD
Short-term trend: Ranging
On the daily chart, the price of
Ethereum is in a ranging market. At the levels of $690 and $700, the price of
Ethereum was ranging. Then it had a bullish movement which took it to the
high of $740. At the high of $740, it resumed its range bound
movement.
The views and opinions expressed here do not reflect
that of CryptoGlobe.com and do not constitute financial advice. Always do your
own research.
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