Ethereum prices fell below the moving average line and reached a low of $2,246.
Ethereum Price Long-Term Analysis: Bearish
The largest Altcoin fluctuated between $2,400 and $2,800 before the descent. The ether was traded in the $2,400-2,800 range before autumn. The buyer failed four times to keep the price above $2,800.
On June 11th, Coinidol.com reported, AltCoin was exposed to intense sales pressure when it fell below the moving average line. Sales pressure will arise when the Bears break the 50-day SMA and $2,400 price level.
Ether is expected to drop further to a psychological price level of $2,000. Buyers will boldly defend the $2,000 psychological price level, but once the Bears break the psychological price threshold, ETH will be another $1,800. Prices surpass the $2,200 support, but continue to fall.
ETH Price Indicator Analysis
Prices after dipping on June 20th are below the moving average line. The horizontal moving average line on the 4-hour chart slid downwards. This is a sign of a continuous decline.
Technical indicators:
Major Resistance Levels – $4,000 and $4,500
Key Support Levels – $2.000 and $1,500
What will be the next move in ETH prices?
Ethereum is currently declining as it is pulled back towards the psychological $2,000 mark. During recent price action, Ethereum trades between $2,400 and $2,800. The bear violated the range, falling below $2,400 support. The ether fell sharply as buyers pushed the price to $2,400.
Over the past 48 hours, ether has been traded above the $2,200 support level.
Disclaimer. This analysis and prediction is the author’s personal opinion. They do not recommend buying and selling cryptocurrencies and should not be considered as approval by coinidol.com. Readers should do research before investing in funds.
