Ethereum Price Analysis: ETH/USD Surpassed $289, Preparing to Break $318 Level
Ethereum price has carried out a pullback and ready for the bullish movement continuation. Ability to break up the barrier at $318 level will expose the coin to the $351 supply level.
Key Highlights:
ETH/USD Medium-term Trend: Ranging
Ethereum price is trading above the 21 periods EMA and 50 periods EMA at a distance to each other which indicates strong bullish pressure. The Stochastic Oscillator period 14 is above 40 levels with the signal lines bending up to indicate a buy signal. Ethereum price has carried out a pullback and ready for the bullish movement continuation. Ability to break up the barrier at $318 level will expose the coin to the $351 supply level.
ETH/USD Short-term Trend: Bullish
As at the moment, the coin is moving sideways at $318 level. The crypto is trading over and around 21 periods EMA and 50 periods EMA with the two EMAs close to each other which confirms the ongoing consolidation in the Ethereum market. Nevertheless, the Stochastic Oscillator period 14 is above 75 levels and the signal lines pointing up to indicate a buy signal.
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