in ,

Ethereum (ETH) Long-term Price Analysis –– April 13 Ranging

ETHUSD Long-term Trend – Ranging

  • The cryptocurrency’s price is now moving between $180 and $160, and could dip to test the $140 level.
  • If the bulls fail to help Ethereum grow the crypto may drop to its 50-day SMA.
  • Distribution territories: $200, $220, $240
  • Accumulation territories: $120, $100, $80

The price of Ethereum has been seeing lower lows in its price movements after its surge over the $180 mark on April 8. The cryptocurrency’s price is now moving between $180 and $160, and could dip to test the $140 level.

Ethereum Chart by TradingView

ETH’s 14-day SMA has been trading within its range for some time, while the 50-day SMA is acting as a support at the $140 mark. The Stochastic Oscillators are within ranges 80 and 60, showing the bulls have lost part of their strength in the market, although ETH is still trading close to April 2’s high.

By now, they’re expected to recover and see the crypto’s price trend higher again. If they fail the crypto may drop to its 50-day SMA.

What do you think?

217 points
Upvote Downvote

Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Comments

0 comments

Ethereum (ETH) Price Analysis – April 12 Bearish

Japan’s Financial Services Agency-Approved Bitcoin Exchange Set to Go Live in Japan