Categories: Ethereum

Ethereum Price Analysis – ETHUSD Struggling To Correct Higher

Click here to view original web page at kryptomoney.com

Ethereum price is struggling to correct higher above the $215 resistance level while holding the $200 support level.

Ethereum Price Technical Analysis

Yesterday August 13, the price of Ethereum (ETH) was trading in the bearish trend zone. The crypto’s price was trading below the 12 and the 26-day Exponential Moving Averages (EMAs) after the bulls were unable to break above the $216 resistance level. On July 9, Ethereum price was trading above the EMAs but the bulls met resistance at the $320 price level. As a result, the price went on a downward correction to a low at $198 level. The $200 support level was holding as the bulls made an upward move toward the EMAs.

At the moment, the price of Ethereum is above the $200 support level and is below the EMAs as the bulls were resisted by the EMAs. On the upside, if the bulls break above the 12 and 26-day EMAs, the coin will rise and retest the $215 and $216 price levels.

On the downside, if the bulls fail to break the EMAs, Ethereum price will slide towards the $190 or $185 levels. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.

ETHUSD Price Short-term Analysis

Looking at the 1-hour chart, ETHUSD price is in a bearish trend zone. The 12 and 26-day EMA are trending horizontally. Yesterday, the bulls met resistance at the $215 price level and the ETHUSD pair went on a downward correction to a low at $204 price level.

The price of ETHUSD is trading below the $210 price level and struggling to recover above the EMAs. In the meantime, the MACD line and the signal line are above the zero line which indicates a buy signal.

  • Resistance levels $212, $215 and $216
  • Support levels: $202, $200 and $199

Disclaimer

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.

Yesterday August 13, the price of […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Everyone’s Worst Fears About EOS Are Proving True

The Takeaway: EOS is the world’s seventh-largest blockchain by market cap, with a value topping $3 billion since February 2019.… Read More

44 mins ago

Street Artist Makes $12,000 in Bitcoin Donations

A French street artist best known for painting lady liberty leading the yellow vests has stated he has received more… Read More

2 hours ago

Wave Financial Launches World-First Bitcoin Yield Fund: Wave BTC Income & Growth Digital Fund

LOS ANGELES, Sept. 19, 2019 /PRNewswire/ -- Wave Financial LLC (Wave), a leading asset management firm focused on digital assets,… Read More

2 hours ago

Nigerian man returns bitcoins worth $80,000

Keith Mali Chung returned Bitcoins worth $80,000 mistakenly transferred to him. A Nigerian man who found $80,000 dollar's worth of… Read More

2 hours ago

Bitcoin Surrenders Post Fed Rate Cut; Pullback Awaited

Bitcoin slipped below $10,000 on Thursday after the Federal Reserve cut benchmark lending rates by 25 basis points.The BTC/USD instrument… Read More

2 hours ago

Bitcoin Hashrate Hits All-time High as Price Dwindles

The benchmark metric of miners confidence in the Bitcoin network established its all-time high on Thursday.Hashrate, which reflects the processing… Read More

2 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More