Ethereum is bullish, but technical indicators are sending bear signals in the medium-term. Several support areas at $530 and $520 will continue to hold in the near-term. After surviving the hack attack on Bithumb exchange, the crypto market has engaged forward gears. Ethereum price is also nearing a breakout at the narrow end of the rising wedge pattern. It is also supported at $520 which also coincides with the ascending trendline. The recent overarching declines had ETH/USD trading in the $460 range. However, the buyers entered and the crypto has sustained an uptrend breaking above the resistance at $480, $520 and $530 respectively. The buyers breached another short-term resistance at $540 but selling pressure on Thursday has pushed for lower corrections. Ethereum is currently trading at $539 while the technical indicators are showing bear pressure movements in the medium-term. The moving averages on the 1-hour timeframe chart signal selling entrance while the stochastic, although at 75%, it is pointing south. The MACD, on the other hand, is in the positive territory, its signals are bearish in the short-term as well. The buyers must put their best foot forward and avoid declines below $535. Significantly, the support areas at $530 and $520 will continue to hold. ETH/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Saudi OilMin: Need to release 1 million bpd in supply FX Street 5 years Ethereum is bullish, but technical indicators are sending bear signals in the medium-term. Several support areas at $530 and $520 will continue to hold in the near-term. After surviving the hack attack on Bithumb exchange, the crypto market has engaged forward gears. Ethereum price is also nearing a breakout at the narrow end of the rising wedge pattern. It is also supported at $520 which also coincides with the ascending trendline. The recent overarching declines had ETH/USD trading in the $460 range. However, the buyers entered and the crypto has sustained an uptrend breaking above the resistance at $480, $520… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.