Ethereum (ETH) Price Analysis – December 17
ETHUSD Medium-term Trend: Ranging
- Resistance Levels: $230, $240, $250
- Support Levels: $80, $70, $60
Last week the ETHUSD pair was still in a range bound movement. The crypto’s price is ranging between the levels of $83 and $91. The movement had been characterized by small body candlesticks. From the daily chart, the ETH price is below the 12-day EMA and the 26-day EMA which indicates that it is in the bearish trend zone.
The crypto’s price has a tendency to fall. The range bound movement will result in a price breakout which is being expected in the days to come. If price breaks below the $83 price level. the ETH price will find support between the lows of $75 and $80. On the upside, if price breaks the $91 price level, ETH price will reach the highs of $100 and $110
ETHUSD Short-term Trend: Ranging
On the 4-Hour chart, the price of Ethereum is in a sideways trend. Last week the crypto’s price fell to its low at $83.17 and commenced a bullish movement. The crypto’s price broke the 12-day EMA, the 26-day EMA and reached the high of $88.80. Today, the ETH price is trading at $92.88 as at the time of writing.
Meanwhile, the Relative Strength Index period 14 is level 63 which indicates that the crypto’s price is in the bullish trend zone.
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