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  • Yesterday, the ETH price was trading at a low of $132.60 after falling from the $140 resistance level.
  • On the downside, if the bearish trend continues, the crypto’s price will fall to the previous low of $ 127.50.

ETH/USD Medium-term Trend: Bearish

  • Resistance Levels: $240, $250, $260
  • Support Levels: $140, $130, $120

Yesterday, March 12, the price of Ethereum was in a bearish trend. Yesterday, the ETH price was trading at a low of $132.60 after falling from the $140 resistance level. Yesterday, the bulls made a bullish movement but were resisted by the 12-day EMA and the 26-day EMA. The price of Ethereum is below the EMAs which indicate that the crypto’s price is likely to fall.

On the downside, if the bearish trend continues, the crypto’s price will fall to the previous low of $ 127.50. On the other hand, if the bulls break above the EMAs the crypto’s price will rise to revisit the previous highs. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The ETH price is below the EMAs which indicate that price is in the bearish trend zone.

ETH/USD Short-term Trend: Bearish

On the 1-hour chart, the crypto’s price is in a bearish trend zone. The ETH price fell to a low of $135.05 and commenced a range bound movement. The 12-day EMA and the 26-day EMA are trending horizontally that price is in a range bound movement. However, if the price falls below the EMAs, the crypto’s price will continue its downtrend.

On the other hand, if the price breaks above the EMAs, the ETH price will resume its bullish trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

(Excerpt) Read more Here | 2019-03-13 08:06:25
Image credit: source

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