The Ethereum price is steadily rising above the $172 mark. But, can ETHUSD pair rise above the strong resistance at the $180 level.
Medium-term Analysis of Ethereum Price
The price ofEthereum (ETH).It was in a bearish trend. On October 18, Ethereum reached the $168 support level. The coin’s recovery above $170 led to a range-bound phase. The Ethereum price is currently trading at $177, despite slow trading activity.
If there are more buyers, the price of the coin will rise. It will retest the $180 or $185 price levels. In contrast, if there are more downsides to Ethereum, the price of the crypto will test the $175 or $170 levels.
The Moving Average Convergence Divergence is (meanwhile)MACDThe signal line (() and signal lines are above the zero line, which indicate a buy signal.
Short-term Analysis of ETHUSD Prices
The price of ETHUSD has a bullish trend on the 1-hour chart. The $180 and $185 resistance levels are likely to be broken. The downside is that the $170 level holds key. Below which, the price could fall towards the $165 or $160 support levels in short-term.
The MACD and signal lines are both above the zero line, which indicate a buy signal.
- Resistance Levels: $180 – $185 – $190
- Support Levels: $175 – $170 – $165
Disclaimer
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.
