On December 17, Eterium began an upward movement as the price fluctuated above the $ 91 level. ETH broke the 12-day EMA and the 26-day EMA up. As the price cut off the 26-day EMA and tested the resistance zone at $ 120.
Later, the price returned to support the 26-day EMA to resume its upward movement. From the daily chart, the cost of the crypto makes a series of higher peaks and higher bottoms of the upward trendline. The goal of the line is to enable us to determine the duration of the bullish trend. It is believed that it continues if the price tests the trend line without disturbing it.
ETH / USD short-term trend: Bullish
In the short term, Ethereum is in the bullish trend. The price peaked at $ 157.41 by the time the article was written.
ETH is expected to reach the $ 200 price level, but will face a $ 180 resistance. The price has seen a remake of its last peak and is likely to test the 12-day EMA before resuming its upward trend.
If the 12-day EMA is tested or the bullish trend resumes, traders can start long transactions. Meanwhile, stochastic bands are over 80% overbought.