• The crypto’s price was trading at a price of $141.91 but was facing resistance at the $142 price level.
  • On the downside, if the bulls fail to break the $142 resistance level, the crypto’s price will fall.

ETH/USD Medium-term Trend: Bullish

  • Resistance Levels: $240, $250, $260
  • Support Levels: $140, $130, $120

Yesterday, March 7, the price of Ethereum was in a bullish trend. The crypto’s price has been ranging above the 12-day EMA and the 26-day EMA in the last three days. The crypto’s price was trading at a price of $141.91 but was facing resistance at the $142 price level. On the downside, if the bulls fail to break the $142 resistance level, the crypto’s price will fall.

On the upside, if the crypto’s price is sustained above the EMAs, the bulls will break the $142 resistance level. The ETH price will further rise to reach the previous high of $170 price level.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The ETH price is above the EMAs which indicate that price is in the bullish trend zone.

ETH/USD Short-term Trend: Bearish

On the 1-hour chart, the crypto’s price is in a bearish trend zone. The bears have broken below the 12-day EMA and the 26-day EMA to reach the bearish trend zone. The ETH price will depreciate further to a low of $130 if the bearish trend continues.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish 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 | 2019-03-08 06:24:50
Image credit: source

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