The coin has been operating within a support and resistance zone, the market seems to have slowed down its momentum after a stiff resistance on a major barrier level. And the price is currently hovering within this area.
Supply levels: $0.029, $0.032, $0.034
Demand levels: $0.028, $0.027, $0.025
ETHBTC Trends: Ranging
The coin has low volatility and has continued to stay within the support and resistant channel of $0.027 and $0.025. And the correct market trend can be predicted only if the price breaks from either of the resistance level of the channel and if the price continues to be rejected by this level, there is likely going to be a price reversal.
The price is below the 14 and 50 Exponential Moving Averages, and the MACD signal lines and Histogram bars are indicating a weak market volume.
ETHUSD Market Analysis: Ranging
ETHUSD is showing a weak trend, the market is operating close to a major resistance level, until the price breaks out of this zone the market will continue to range there, if the price breaks below the resistance level, the market will go for a lower low target, otherwise, the price might go up for a bullish trend.
The 4-hour chart is indicating that the MACD Indicator is showing a weak market trend, while the two Exponential Moving Averages are showing bearish market support.
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