ETH/USD Long-term Trend: Ranging

Resistance Levels: $250, $270, $290
Support Levels: $180, $160, $140

The ETH/USD pair was range bound in the month of October 2018. The digital currency was ranging above the $200 price level. On October 15, Ethereum had a price rally which made the crypto to reach the high of $241.

The resistance at $240 made the crypto to fall but managed to recover at $204.10. In the first week of November, the digital currency is fluctuating below and above the $200 price level.

Ethereum is expected to continue its range bound movement. Today, the price of Ethereum is currently trading at $202 as at the time of writing.

Meanwhile, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.

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