Ethereum’s ProgPow Mechanism Approved, Timeframe is Uncertain, Though
  • Yesterday, the crypto’s price has traded and reached a high of $176 price level was resisted.
  • On the upside, if the price is sustained above the EMA, the crypto’s price will reach the previous high of $185 price level.

ETH /USD Medium-term Trend: Bullish

  • Resistance Levels: $240, $250, $260
  • Support Levels: $150, $140, $130

Yesterday, April 18, the price of Ethereum was in a bullish trend. Since on April 10, the bulls reached a high of $182.29 for the price of Ethereum. On April 15, the crypto’s price depreciated to the low at $158.80 and the bulls were making frantic efforts to reach the previous high. Yesterday, the crypto’s price has traded and reached a high of $176 but was resisted.

The price has fallen to the support of the 12-day EMA. On the upside, if the price is sustained above the EMA, the crypto’s price will reach the previous high of $185 . On the other hand, if the bears break below the EMAs, the crypto’s price will resume a downward trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The ETH price is above the EMAs which indicate that price is in the bullish trend zone.

ETH/USD Short-term Trend: Bearish

On the 1-hour chart, the crypto’s price is in a bearish trend zone. The bears broke the 12-day EMA and the 26-day EMA as the price fell to its low at $171.07 to resume another bullish trend. The crypto’s price is below the EMAs which indicate that price is likely to fall.

However, if the bulls break above the EMAs, the crypto’s price is likely to 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.

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