Published: 2018-11-29 05:14:10
Ethereum Price Analysis: ETH/USD Could Snap Back to $170

ETH/USD Medium-term Trend: Bullish

Resistance Levels: $240, $250, $280Support Levels: $100, $90, $80

Yesterday, November 28, the price of Ethereum was in a bullish trend. The crypto’s price has broken the $120 price level and the price is fuctuating at that level. Similarly, the price of Ethereum is now in the bullish trend zone. Traders should initiate long trades at the $120 price levels if the level holds. Also, a stop loss should be placed below the $120 price level.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The price of Ethereum is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone. The crypto’s price is likely to rise as long as the price is above the EMAs.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the crypto’s price is in a bullish trend. The digital currency is in a smooth uptrend as the price is making a series of higher highs and higher lows. Presently, the crypto’s price  is retracing from the recent high. Meanwhile, the price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

The views and opinions expressed in the article Ethereum (ETH) Daily Price Forecast – November 29 do not reflect that of 48coins.com nor of its originally published source. Article does not constitute financial advice. Proceed with caution and always do your own research.

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