Ethereum (ETH) Price Analysis (April 20)
• The coin is in a bullish trend in its overall outlook.
• Buyers are in control of the market at the present.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $260, $280, $300
• Support levels: $85, $75, $65
The coin structure looks bullish in its medium-term outlook. The bears increase momentum push the price down to $176.82 in the support area, during yesterday’s session.
Today’s daily opening candle at $180.44 in the resistance area is bullish as the bulls are coming into the market gradually.
ETHUSD further rise to $186.74 in the resistance area as the journey up north has begun.
Price is initially up at $187.21 in the resistance area above the two EMAs, an indication of an uptrend in the context of the market.
The stochastic oscillator signal pointing up at around level 92% in the overbought region suggests an upward momentum in the cryptocurrency price in the medium-term within the range.
ETH/USD Short-term Trend: Bullish
The crypto is in a bullish trend zone in its short-term perspective. The bulls made a progressive movement to the north with a touch at the 9-EMA at $180.44 in the resistance area as the 4-hourly session opens today.
Ethereum price further rise to $184.70 as the journey up north continues. ETHUSD now trades above the two EMAs which are fanned apart. An indication of uptrend and buyers dominance in the market.
The stochastic oscillator signal pointing up at level 64% suggests an upward momentum in the price of the coin in the short-term.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.
Published at Mon, 20 Apr 2020 05:30:31 +0000 Ethereum (ETH) Price Analysis (April 20)