ETH/USD Long-term Trend: Bearish
Resistance Levels: $350, $370, $390
Support Levels: $100, $80, $60
The ETH/USD pair had been bearish in the last three weeks of November 2018. On November 1, the price of Ethereum had an opening balance of $198.41 but had fallen to the low of $122.45. On November 14, the 12-day EMA and the 26-day EMA resisted price and the crypto fell in a downward trend. The bears selling at the $200 price level had been a tug of war between the bulls and the bears. The $200 price level had been range-bound in the last three months before its eventual breakup.
On November 24, the crypto’s price is trading at $122.45 as at the time of writing. The digital currency is in a bearish movement as the price has reached the oversold region of the market. Meanwhile, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
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