ETH/USD Long-term Trend: Bearish
Resistance Levels: $230, $250, $270
Support levels: $200, $180, $160
The price of Ethereum was in a sideways trend at the beginning of September 2018. The ETH price was fluctuating between the levels of $320 and $260 with an opening balance of $282.80. The bears resisted price at $299.38 and brought price to the low of $ 225.29.The price broke the lower level of the previous price range which is $260. As the bearish pressure subsided, the ETH price is now ranging at a price $216.40.
The price of Ethereum is likely to rise because the price has reached the critical support level at $200.Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. The Relative Strength Index period 14 is level 34 which indicates that the market is oversold suggesting bulls to take control of the market.
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