Ethereum (ETH) Daily Price Forecast – August 20
ETH/USD Medium-term Trend: Ranging
Resistance Levels: $310, $320, $330
Support Levels: $280, $270, $260
The price Ethereum was in a sideways trend. In the last one week, the ETH price was fluctuating between the levels $290.99 and 319.17. The price of Ethereum has been quiet in the last four days. Today, the cryptocurrency is likely to continue its range bound movement.
Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a neutral signal. In addition, the price of ETH is at par with the 12-day EMA and the 26-day EMA which indicates that price is in the sideways trend. The Relative Strength Index period 14 is level 47 which indicates that price is in the sideways trend zone.
ETH/USD Short-term Trend: Bullish
On the 1-hour chart, the ETH price is in a bullish trend. The price of the cryptocurrency is moving horizontally along with the exponential moving averages. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The price of Ethereum is above the 26-day EMA and the 12-day EMA which indicates that a bullish trend is ongoing.
The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.
Source: www.bitcoinexchangeguide.com
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