ETH/USD Medium-term Trend: Ranging
- Resistance Levels: $240, $250, $280
- Support Levels: $130, $120, $110
Yesterday, December 26, the price of Ethereum was in a sideways trend. The crypto’s price is neither below nor above the 12-day EMA and the 26-day EMA indicating that price is in a sideways trend. The price of Ethereum is still fluctuating above the $130 price level.
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 the price falls below the $130 price level, the crypto will find support at the $110 price level.
ETH/USD Short-term Trend: Ranging
On the 1-hour chart, the crypto’s price was in a sideways trend.The crypto’s price is fluctuating below and above the 12-day EMA and the 26-day EMA which indicates that price is in a sideways trend. The crypto’s price is ranging between the levels of $127 and $140.
If price breaks below the $127 price level , the crypto’s price will fall the low of $110. On the other hand, if the price breaks above the $140 price level, the crypto will reach the previous high of $150. Meanwhile, the Stochastic is above the 20% range which indicates a bullish momentum and a buy signal.
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