ETH/USD Medium-term Trend: Ranging
Resistance Levels: $240, $250, $260
Support Levels: $110, $100, $90
Yesterday, January 22, the price of Ethereum is in a bearish trend zone. Although the crypto’s price is still in the bearish trend zone, the bulls have made concerted efforts to break the 12-day EMA and the 26-day EMA. Also, from the low of $116, the bulls were making frantic efforts to break above the $120 price level. Presently, the 26-day EMA was resisting the crypto’s price from breaking through.
Today, the crypto’s price is expected to break above the $120 price level. Meanwhile, the stochastic is in the overbought region but above the 80% range. This indicates that the price of Ethereum is in a bullish momentum and a buy signal.
ETH/USD Short-term Trend: Ranging
On the 1-hour chart, the crypto's price is in a bullish trend zone. Yesterday, the bulls broke the 12-day EMA , the 26-day EMA and price reached the $120 price level. The crypto’s price is expected at the $130 price level.
Meanwhile, the stochastic is out of the overbought region but below the 40% range. This indicates that the price of Ethereum is in a bearish momentum and a sell signal. Meanwhile, the MACD line and the signal are below the zero line which indicates a sell signal.
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