Ethereum price is rising again after falling to $1,383. The bulls bought the dips on April 9 and rose back above the $1,400 support level.
Ethereum price long-term analysis: bearish
The largest altcoin is trading above the $1,400 support but below the moving average lines. The digital asset will resume its uptrend if buyers push the price above the 21-day SMA or the $1,750 level. The altcoin will hit the 50-day SMA or the psychological milestone of $2,000 if it breaks above the 21-day SMA barrier.
Ether will continue its uptrend if the price breaks above the moving average lines. Ether will continue to rise and peak at $2,400 and $2,800. At the time of writing, the largest altcoin is valued at $1,675.
Ethereum indicator analysis
The price bars reach lower highs and lower lows below the downward moving average lines. The moving average lines on the weekly chart have crossed negatively. In other words, a bearish signal is indicated when the 21-day SMA is below the 50-day SMA.
Technical Indicators:
Major Resistance Levels – $4,000 and $4,500
Primary Support Levels – $2.000 and $1,500
What is the next direction for Ethereum?
Ethereum is trading below the moving average lines but above the $1,400 support. The crypto price is rising and approaching the 21-day SMA barrier. If Ether falls off the 21-day SMA, it will continue to move sideways. The uptrend will return if it breaks above the 21-day SMA.
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.
