The price of Ethereum has broken through the 21-day SMA line and continued its uptrend.
Ethereum price long-term analysis: bearish
Thanks to this encouraging rise, the altcoin has risen above the $1,750 barrier. If buyers push the price above the 50-day SMA, Ether will rise above the high of $2,000. The uptrend will continue until it reaches the high of $2,600. The largest altcoin will then exit the downtrend zone and rise again.
On the other hand, the altcoin runs the risk of falling to support at $1,300 if Ether drops below the 50-day SMA. Ether is trading below the 50-day SMA barrier but above the 21-day SMA support. ETH price is currently trading at around $1,793.10.
Ethereum indicator analysis
Ether price has broken above both the $1,750 barrier and the 21-day SMA. If buyers break through the 50-day SMA resistance, Ether will rally. The moving average lines are moving lower despite the trend reversal.
However, the 4-hour chart shows a bullish crossover between the moving average lines.
Technical Indicators:
Key Resistance Levels – $4,000 and $4,500
Key Support Levels – $2.000 and $1,500
What is the next direction for ETH?
The largest altcoin has broken through the 21-day SMA, regaining an uptrend. Ether is trading between the moving average lines. It broke through the $1,750 support on the 4-hour chart and has since retraced above it.
The uptrend will continue if buyers maintain their positive momentum above the $1,750 level. It will reach the next barrier at $2,100. If Ether loses support at $1,750, it will fall back to the previous low.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
