Ethereum (ETH) Price Analysis (April 21)
• Price now trades in a range close to the upper resistance level.
• The bulls are on top of the market.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $240, $250, $260
• Support levels: $85, $75, $65
The coin looks bullish in its medium-term perspective. The bears increased momentum drops the price down to $166.64 in the support area, during yesterday’s session. The momentum was lost as exhaustion sets in as the bulls return briefly.
Today’s daily inverted hammer opening candle at $170.51 is bullish as the bulls’ returns briefly to the market.
ETHUSD rises further to $173.93 in the resistance area. Price is above the two EMAs, an indication of an uptrend in the context of the strength.
The signal of the stochastic oscillator points down at around level 65% in the overbought region suggests a downward momentum in the price of the coin also the crypto may likely encounter a change in trend in the days ahead in the medium-term perspective.
ETH/USD Short-term Trend: Bullish
The coin is in a bullish trend zone market in its short-term outlook. $184.70 in the resistance area is the high attain during yesterday’s session.
The 4-hourly session today opens with a bullish doji candle at $107.81 in the resistance area signals an indication of a trend reversal in the nearby days.
Price is initially up at $172.71 in the resistance area with its wick touching the EMA-50 this implies the momentum in price is in an uptrend in the context of the strength.
The stochastic signal pointing up at around level 20% in the oversold region suggests the momentum in price may likely continue to go up in the future in the short-term outlook.
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 Tue, 21 Apr 2020 05:13:52 +0000 Ethereum (ETH) Price Analysis (April 21)