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ETH/USD Medium-term Trend: Bullish

SourceBlog
#1
• Resistance levels : $240, $250, $260
• Support levels: $85, $75, $65

The coin looks bullish in its medium-term perspective. The bears increased momentum drops the price down to $166.64 in the support area, during yesterday’s session. The momentum was lost as exhaustion sets in as the bulls return briefly.

Today’s daily inverted hammer opening candle at $170.51 is bullish as the bulls’ returns briefly to the market.
ETHUSD rises further to $173.93 in the resistance area. Price is above the two EMAs, an indication of an uptrend in the context of the strength.

The signal of the stochastic oscillator points down at around level 65% in the overbought region suggests a downward momentum in the price of the coin also the crypto may likely encounter a change in trend in the days ahead in the medium-term perspective.

@TradeCryptoNow
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