ETH/USD Long-term Trend: Bearish
- Resistance Levels: $350, $370, $390
- Support Levels: $150, $130, $110
The ETH/USD pair had been in the bullish trend zone since on December 17. The bulls had tested twice the $160 price level and were unable to break it. If the bulls break the $160 price level, the crypto will reach the highs of $180 and $200. Nevertheless, the price of Ethereum has an opening balance of $136 in the month of January 2019.
From the weekly chart, the price of Ethereum is in the bearish trend zone. The crypto’s price is making a bullish movement to the 12-day EMA and the 26-day EMA. If the bulls break above the EMAs, the crypto will be in the bullish trend zone.
Meanwhile, the stochastic is out of the oversold region but above the 20% range indicating that Ethereum is in a bullish momentum and a buy signal. The MACD line and the signal line are below the zero line which indicates a sell signal.
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