Cryptocurrency is above $1,400 support and below the moving average line, but the Bulls are buying dip.
Ethereum Price Long-Term Analysis: Bearish
As reported by Coinidol.com, Ethereum prices have fallen to a low of $1,383 since April 9th.
Currently, market direction has been subject to a price war between bulls and bears for the past 48 hours. Ether is today at an all-time high.
On the plus side, ether gathers when buyers raise prices above the $1,750 peak. However, when the bear breaks past its current support level at $1,300, the ether drops even further. The ether then drops to a low of $1,150. In the meantime, the ether has been steadily rising, reaching its highest of $1,644.
Ethereum Indicator Analysis
The ether price range is stagnant below the downward tilted moving average line, but surpassing the $1,400 support. Doji Candlesticks remain common as Altcoin continues to rise over current support. The moving average line, which previously sloped upwards on the weekly chart, slops downwards.
Technical indicators:
Major Resistance Levels – $4,000 and $4,500
Key Support Levels – $2.000 and $1,500
What’s next in Ethereum?
Currently, Ethereum prices are below the moving average line and support levels are above $1,400.
Crypto prices have been traded beyond current support for the past five days, but the upward movement has stagnated and remained in scope. Once the ether recovers above $1,750, it bounces off the dip.
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.
