ETH/USD Long-term Trend: Bearish
Resistance Levels: $260, $280, $300
Support levels: $200, $180, $160
The ETHUSD pair had been bearish all through the month of September 2018. On September 1, the ETH price has a balance of $282.80. On September 2, the digital asset was resisted and it fell to the low of $181.77. Thereafter the price of the digital currency had been range bound between the levels of $200 and $250. Presently, the price of Ethereum has depreciated by 23.37% and it is fluctuating above the price of $200.
Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. The Relative Strength Index period 14 is level 35 which indicates that the market is oversold suggesting bulls to take control of the market.
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