ETH/USD Long-term Trend: Bearish
Resistance Levels: $230, $250, $270
Support levels: $200, $180, $160
The price of Ethereum had been bearish in the month of September. With an opening balance of $282.80, the cryptocurrency fell to the low of $175.68 in the first eleven days of the month. In the subsequent four days, the cryptocurrency became bullish; which resulted in a price of $216.48. Today, the ETH price has been depreciated by $23.45%. The price of Ethereum is currently trading at a price of $216.48. The price is above the critical support level of $200 and which is expected to rise.
Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. The Relative Strength Index period 14 is level 34 which indicates that the market is oversold suggesting bulls to take control of the market.
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