After a huge drop below the $170 support level, Ethereum prices rebound to the $180 level. Will the ETHUSD pair continue its recovery to $200
Medium-term Analysis of Ethereum Price
Yesterday, October 25, the priceEthereum (ETH).The trend was bullish. The market was regained by the bulls, pushing Ethereum price up from $160 to $181 and breaking the 20-day Simple Moving Average. However, bulls seem exhausted since they failed to maintain the uptrend. The Ethereum price trades at $179 as of the writing.
The upside is that if there are more buyers, the price levels of $190 and $200 will be challenged. The downside is that if the bulls fail at breaking the resistance level, then the crypto’s price could remain range bound for a few days. The Moving Average Convergence Divergence is (MACDThe signal line (() and signal lines are above the zero line, which indicate a buy signal.
Short-term Analysis of ETHUSD Prices
The bullish trend in ETHUSD is evident on the 1-hour chart. Before it surged to $181, the pair was trading in a narrow range of $159 to $163. It met resistance at $181 but bounced back to climb to 183.
The MACD and signal lines are both below the zero line, which indicate a sell signal.
- Resistance Levels: $185 – $190 – $200
- Support Levels: $175 – $170 – $160
Arathur Stephen has not been registered with any state or federal regulatory agency as an investment advisor. This information should not be considered investment or trading advice. It is not intended to solicit or recommend any cryptocurrency purchase, sale, or holding. This information is provided solely for educational and informational purposes. Before you make any investments, always seek the advice and supervision of a licensed professional.