In this Ethereum price analysis, ETHUSD continues the downward trend but will resume its bullish trend if the $154 price level holds.
Ethereum Price Analysis
Ethereum (ETH) price was in a bearish trend yesterday April 25 after the bulls met resistance at the $176 price level, continuing the downward trend that started since April 23. The price drooped to the price level $164 and resumed a range bound movement above it. The bulls were, however, resisted at $164 and the price declined once again to a previous low at $154.55.
However, if the $154 price level is sustained, Ethereum price will commence its upward trend to retest the resistance level of $176. On the downside, the price of ETH will plummet either to the lows at $140 or $160 if the downtrend continues. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are just below the zero line, suggesting a sell signal. Ethereum price is now below the EMAs indicating that the price of Etereum is in a bearish trend zone.
ETHUSD Short-term Price Analysis
As the 1-hour chart shows, ETHUSD price is in a bearish trend zone. The price traded in a range bound movement above the price level of $165. Yesterday, April 25, the bears broke the 12-day ]and the 26-day Exponential Moving Averages (EMAs) and the price dropped to the bearish trend zone. Afterward, ETHUSD declined to a low at $155.11 but later resumed a bullish trend.
If ETH bulls break above the EMAs, the price will retest the $165 level. In the meantime, the MACD line, as well as the signal line, are below the zero line, suggesting a sell signal. Moreover, Ethereum price is below the 12-day and the 26-day EMAs, an indication that price is in the bearish trend zone.
- Resistance Levels: $240, $250, $260
- Support Levels: $150, $140, $130
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.