Ethereum (ETH) Daily Price Forecast – June 18
ETH/USD Medium-term Trend: Bearish
Resistance Levels : $500, $505, $510
Support Levels: $485, $480, $475
Price of ETH/USD pair was also in a bearish trend. The asset was trading at $520.92 and later fell the low of $460.78. From the 4-hour chart, price touched the lower Bollinger band and also at the second low. This gives the asset a buy signal. Nevertheless, the MACD line and the signal line are neither above nor below the zero line indicating a neutral signal.
In addition, the 12-day EMA and the 26-day EMA are neither below nor above the price of the asset indicating a neutral signal. However, from the price action, the asset had been in a range bound movement.Meanwhile, the relative strength index period 14 is level 45 indicates that price is in the range bound zone.
ETH/USD Short-term Trend: Bearish
On the 1-hour chart, price of Ethereum is in a bearish trend. The MACD line and the signal line are below the zero line indicating a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price of the asset which indicates that the bearish 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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