In this Ethereum price analysis, if the bulls sustain the price above the 12-day EMA, the $176 resistance level will be broken, and the price will climb to previous high of $184 and $200 levels.
Ethereum Price Analysis
Ethereum (ETH) price is currently in a bullish trend zone. On April 18, ETH, the second largest coin by market cap was in a bullish trend as it climbed to a high of $173.15, however, the bulls met resistance. The price may fall to the support of either the 12-day or the 26-day Exponential Moving Averages (EMAs). Ethereum price will resume its bullish trend at the support level.
If, however, the bulls sustain the price above the 12-day EMA, the $176 resistance level will be broken, with the price climbing to the previous price levels of $184 and $200. On the other hand, if the bears take control, the price will retrace to the support of the EMAs for a bullish trend resumption.
In the meantime, the s=Stochastic indicator is at the overbought region, while above the 40% range, suggesting that the ETH price is in a bullish trend and a buy signal.
ETHUSD Short-term Price Analysis
As the 4- hour chart indicates, ETHUSD price is in a bullish trend in the short-term. The price has been trading between the $160 and $184 levels since April 3. ETH bulls have After testing the resistance level on two different occasions, ETH bulls were unable to break it. The bears, on three occasions, tested the support levels.
Today, April 19, ETHUSD price is trading at $172 at the time of writing. If the 12-day EMA holds, the Ethereum price will commence its bullish trend to break above the $176 resistance level and will climb to $185 price level.
On the downside, if the bears break below the EMAs, Ethereum price is likely to decline to the $160 support level. In the meantime, the stochastic indicator is at the overbought region while below the 80% range, indicating that the ETHUSD price is in a bearish momentum and a sell signal.
- Resistance Levels: $230, $240, $250
- Support Levels: $150, $140, $130
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The Information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.