Ethereum (ETH) Price Analysis (April 24)
• Ethereum price might get close to the current resistance level.
• Buying may be considered in the key areas.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $240, $250, $260
• Support levels: $85, $75, $65
The crypto is in a bullish in its medium-term outlook. Today’s daily session at $185.84 opens with a bullish pin bar in the resistance area.
The journey up north continues as the bulls’ moves the price up to $189.74 above the two EMAs in the resistance area, which is an indication that the momentum in price of the coin is in an uptrend.
The stochastic oscillator signal pointing upwards at around level 83% suggests the momentum in price of Ethereum might remain in control of the bulls, hence sellers’ relief in the medium-term.
ETH/USD Short-term Trend: Bullish
The coin is in an uptrend in its short-term outlook. The bears at $190.93 further push the price down to $186.40 and close at $185.84 in the support area during yesterday’s session. The momentum was lost due to the bulls’ brief return.
The 4-hour opening candle today at $185.84 at the resistance area is bullish.
The coin is initially up at $189.74 with its wick touching the upper resistance line in the resistance area above the two EMAs, suggests that the momentum in price of the coin is in an uptrend.
The stochastic oscillator signal pointing down at around level 71% in the overbought region implies that the price of Ethereum may encounter a trend reversal in the days ahead 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 Fri, 24 Apr 2020 05:34:43 +0000 Ethereum (ETH) Price Analysis (April 24)