ETHBTC has continued to be within a support and resistance zone, so a breakout from any of the levels will set the market trend either for a bullish or bearish trend.
Supply levels: $0.029, $0.032, $0.034
Demand levels: $0.027, $0.028, $0.024
ETHBTC Trends: Ranging
The coin is operating within the support and resistance area of $0.028 and $0.024. The price can break out in either direction may be for a lower low target or a trend reversal.
The daily is showcasing that the 14 and 50 Exponential Moving Averages are widely separated for a bearish indication, while the MACD Indicator Histogram bars are on are indicating weak market volatility.
ETHUSD Market Analysis: Range
ETHUSD is in a range zone, the trend direction has not been identified yet until the market is out of the ranging zone that it has been in. The opening trading position is not an ideal decision now, as the price is still behind the price resistance area.
The 4-hour chart shows that the price is hovering below the 14 and 50 Exponential Moving Averages, while the MACD Indicator signal lines and Histogram bars are lying flat, thus signaling a counter-trending market trend.
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