Daily (ETH) Value Forecast – April 15

  • The bulls reached a high of $169.08 and commened a range bound movement above the EMAs.
  • The crypto’s price is expected to rise because the price is above EMAs to retest the $184 resistance level.

ETH/USD Medium-term Trend: Bullish

  • Resistance Levels: $240, $250, $260
  • Support Levels: $150, $140, $130

Last week the price of Ethereum was in a bearish trend. The bulls failed to break the $184 resistance level and were resisted. The crypto’s price fell and broke the 12-day EMA and  the 26-day EMA to reach the bearish trend zone. The crypto’s price fell to a low at $164.24 and commenced a range bound movement.

On April 14, the bulls broke above the EMAs to resume its bullish trend. The bulls reached a high of $169.08 and commenced a range bound movement above the EMAs. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The ETH price is above the EMAs which indicate that price is in a bullish trend zone.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the crypto’s price is in a bullish trend zone. Last week the crypto’s price was ranging above and below the 12-day EMA and the 26-day EMA. On April 14, the bulls broke the EMAs to resume its bullish trend. The ETH price is now trading at $169.19 as at the time of writing.

The crypto’s price is expected to rise because the price is above EMAs to retest the $184 resistance level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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