Ethereum (ETH) Price Analysis (April 22)
• The cryptocurrency is now showing a few bullish sign above the support level.
• Ethereum looks tasty for bulls in the short-term.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $240, $250, $260
• Support levels: $85, $75, $65
ETHUSD looks bullish in its medium-term perspective. The formation of the doji candle at $170.51 in the resistance area during yesterday’s session returns the bulls within the range.
Today’s daily candle opens on a bullish note at $170.79 in the resistance area.
Price is initially up at $184.24 in the resistance above $89.66 support level.
Ethereum now trades above the two EMAs at the time of writing this article which indicates that price is in an uptrend.
However, the stochastic signal pointing down at around level 66% in the overbought region suggests that the momentum in the price of Ethereum is in a downtrend and may likely continue in the same direction in the days ahead in the medium-term.
ETH/USD Short-term Trend: Bullish
The coin is in a bullish trend zone in its short-term outlook. A bullish spinning top hammer at 170.79 opens today’s 4-hourly candle in the resistance area.
With the price initially up at $183.40 well above the two EMAs and the stochastic signal up at around level 74% in the overbought region, suggests an upward momentum in price of the coin in the short-term perspective.
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 Wed, 22 Apr 2020 19:11:49 +0000 Ethereum (ETH) Price Analysis (April 22)