Ethereum (ETH) Daily Price Forecast – October 18

ETH/USD Medium-term Trend: Ranging

Resistance Levels: $240, $260, $280
Support Levels: $200, $180, $160

Yesterday, October 17, the price of Ethereum was in a sideways trend. The digital currency is fluctuating horizontally above the $200 price level. Since the crypto's price is consolidating the price has remained almost the same. Traders will not be able to trade as the market is not trending but consolidating.

The crypto's price is in the bullish trend zone and as such price is likely to rise. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, 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.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Ethereum is in a sideways trend. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in a bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal. If the digital currency falls below the $200 price level, Ethereum will be weak.

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