Ethereum (ETH) Daily Price Forecast – September 25

ETH/USD Medium-term Trend: Bearish

Resistance Levels: $300, $320, $340
Support Levels: $200, $180, $160

Yesterday, the price of Ethereum was in a range bound movement. The range bound movement was as a result of the resistance at $254.61 where price pullback to the low of $232.70. At this level, the digital asset commenced a range bound movement up till September 24 before falling into a bearish trend. The  digital currency is on a downward trend and it’s approaching the critical level at $200 price level.

If price breaks this level, the ETH price will depreciate to the low of $192.50. If the critical support level holds, traders should look out for buy setups to initiate long trades. Meanwhile, the MACD line and the signal line are below the zero line which indicates a buy signal. In addition, the price of ETH is below the 12-day EMA and the 26-day EMA which indicates that price is in a bearish trend. The Relative Strength Index period 14 is level 29 which indicates that the…