Ethereum prices stabilized support at $1,400 and resistance at $1,700 or moving average line.
Ethereum Price Long-Term Analysis: Bearish
As Coinidol.com previously wrote, price movement has stagnated beyond $1,500 since April 11th. The presence of Doji Candlesticks indicates that traders are uncertain about the direction the market will take. A $1,400 21-day SMA barrier and support limits cryptocurrency upside-down and downside movements.
Conversely, if the ether breaks above the 21-day SMA barrier, it will regain its positive momentum. The bullish momentum extends to a high of $1,750. The biggest Altcoin will resume its positive trend if buyers maintain prices above $1,750. Ether is currently trading above the $1,500 support level, making it unclear in the direction. At the time of writing, the ether is $1,602.
ETH indicator analysis
The decline halted beyond the $1,500 support, but the ether price bar is below the moving average line. Doji Candlesticks dominate price activity. The 21-day SMA is opposed to the upward trend in cryptocurrency on the daily charts. Ether will resume uptrends once the price bar exceeds the 21st and 50 days of SMA.
Technical indicators:
Major Resistance Levels – $4,000 and $4,500
key Support Levels – $2.000 and $1,500
What’s next in Ethereum?
Ethereum prices are stable beyond the $1,500 support. Price actions beyond existing support have been stopped by buyers and sellers. The largest altcoins rise as buyers appear in the market’s sold areas.
However, it is doubtful that cryptocurrency will drop even further.
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.
