The crypto could not break a key barrier yesterday, thus the price had no option than to reverse from there for a bullish market trend, but caution is also needed in trade execution not until the market breaks another price barrier level.
Supply levels: $0.029, $0.032, $0.034
Demand levels: $0.028, $0.027, $0.025
ETHBTC Trends: Ranging
ETHBTC is on a ranging zone, the price hit the barrier level of $0.025 and could not break out of it, and rather this level is becoming a support zone for the price reversal. The coin is expected to hit the next resistance level of $0.027 and if it breaks out from there, then a bullish trend can be properly pronounced.
From the daily chart, the price is seen heading up towards the 14 Exponential Moving Average, while the MACD Indicator is showing signs of weak market momentum.
ETHUSD Market Analysis: Ranging
ETHUSD is losing momentum, and this has made the market to be in a ranging mode for a while now.
From the 4-hour chart X-ray, the price is hovering within the 14 and 50 Exponential Moving Averages, thus indicating a strong ranging market, also the MACD Indicator signal lines and Histogram bars are lying flat, given a ranging market condition.
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