Ethereum (ETH) Daily Price Forecast – August 30
ETH/USD Medium-term Trend: Rang: Ranging
Resistance Levels: $330, $340, $350
Support Levels: $300, $290, $280
Yesterday, August 29th, the price of Ethereum was in a bullish trend. The ETH price was unable to reach and break the upper level of a price range. The cryptocurrency reached the high of $297.53 and later fell to the low of $284.02. The price of Ethereum is range bound between the levels of $260 and $320 since August 17. Today, the price of Ethereum has fallen to its range bound movement.
The ETH price is likely to fluctuate within the confinement of its range. Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Ethereum is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing. The Relative Strength Index period 14 is level 51 which indicates that price is in the sideways trend zone.
ETH/USD Short-term Trend: Ranging
On the 1-hour chart, the price of Ethereum is in a sideways trend. The MACD line and the signal line are below the zero line which indicates a sell signal. Price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that price is falling.
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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