In this Ethereum price forecast, the ETHUSD pair will fall to the lows of $155 or $160, if the 12-day EMA is broken. However, if the bulls maintain the 12-day EMA support level, ETH will resume its bullish trend and retest the $184 resistance level.
Ethereum Price Forecast
In the past four days, Ethereum (ETH) price had been on a downward correction. On Monday, April 8, ETH bulls met resistance after it reached a high of $187. The price dropped to the low at $165 and at the support of the 12-day Exponential Moving Average (EMA). Today, April 12, the price of Ethereum is testing the 12-day EMA support level.
If the bulls are able to maintain the 12-day EMA support level, they will commence the upward trend and retest the $184 resistance level. Whereas, if the bearish trend persists, the bears will break the support level of 12-day EMA and the price will crash to the lows of either $155 or $160 price level.
In the meantime, the Stochastic band is at the overbought region while below the 80% range, which indicates that the price is in a bearish trend and a sell signal.
ETHUSD Short-term Price Forecast
As the 4-hour chart shows, the price of the ETHUSD pair is in a bearish momentum. The ETHUSD pair dropped below the 12-day EMA as well as the 26-day EMA and resumed a range bound movement. ETH price is now ranging above the $164 level.
ETH price is in a bullish trend today as it attempts to break above the EMAs. The upward momentum will resume if the bulls break above the EMAs. The price of Ethereum will fall if the bulls are unable to break above the EMAs.
In the meantime, the Stochastic indicator is at the oversold region while above the 20% range, indicating that ETHUSD is in a bullish momentum and a buy 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.