• A bullish break at the $248.74 price level will make the crypto rally above the $280 price level.
• The coin is trading in a bullish trend zone.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $260, $280, $300
• Support levels: $110, $100, $80
The cryptocurrency remains in a bullish trend market in its medium-term outlook. Bulls push the price up to $268.29 in the resistance area as the high and $243.01 as low during yesterday’s session.
A bullish candle at $268.20 above the resistance line opens today’s daily session as the bulls remain dominant in the market. ETHUSD increased further to $271.67 in the resistance area.
Price is above the two EMAs in the upper resistance area, implies the momentum in price of the coin is in control of the bulls and in an uptrend.
The signal of stochastic oscillator pointing down at around level 80% in the overbought region, suggests the price of the coin may encounter a change in trend in the days ahead in the medium-term perspective.
ETH/USD Short-term Trend: Bullish
The coin is in an upward movement in its short-term outlook. The 4-hourly candle opens today with a bullish spin top hammer at $268.20 in the upper resistance area within the range.
Ethereum rises further to $271.23 in the resistance area as it journeys up north.
Price is above the two EMAs in the upper resistance area and the stochastic oscillator signal is pointing up at level 80%, an indication of buyer’s full control of the market and an upward trend in the short-term.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.
