Ethereum price is characterized by small body candlestick like the Doji and Spinning tops which shows that buyers and sellers are indecisive about the current market price.
ETHUSD Price Chart
Yesterday, July 25, Ethereum (ETH) was in a range-bound movement below the 12 and 26-day Exponential Moving Averages (EMAs). The price of ETH now trades above the $200 support level while below the EMAs. ETH bulls are facing resistance at the 12-day EMA. On the upside, if ETH bulls break above the EMAs, the price of Ethereum will commence its bullish trend and retest the $320 and $340 resistance level.
On the downside, Ethereum price will depreciate to the low of $175 level if the bears break the $200 support level. Nevertheless, ETH price is characterized by small body candlestick like the Doji and Spinning tops which shows that buyers and sellers are indecisive about the current market price. Ethereum price will continue to range below the EMAs as long as the small body candlestick dominate the chart. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which is an indication of a sell signal.
ETHUSD Price Chart
Looking at the 1-hour chart, ETHUSD price is in a bullish trend. The moving averages are sloping horizontally. Yesterday, ETH bulls made an upward move to break above the EMAs. The price of ETHUSD is now facing resistance at the $225 price level as the price retraces to the support of the 12-day EMA. The MACD line and the signal line are above the zero line indicating a buy signal.
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