Ethereum price remained above the $2,200 support level but below the moving average lines.
Ethereum price long-term analysis: bearish
Buyers failed twice last week, as Coinidol.com reported, to keep the price above the moving averages. The ether price has fallen back above the support level of $2,400 and thus retested the moving average lines. Neither bulls nor bears have the upper hand at the moment. If the buyers break through the moving averages, Ether will rise above them and reach a high of $2,700.
On the other hand, if Ether falls off the moving averages, it will fall above the key support level of $2,000. In the meantime, Ether is waiting for a positive move by holding above the $2,400 support.
Technical Indicators:
Key Resistance Levels – $4,000 and $4,500
Key Support Levels – $2.000 and $1,500
Ether price indicator analysis
Ether remains in the bearish trend zone as long as the price bars are below the moving average lines. The moving average lines are horizontal and indicate a sideways trend. The price bars on the 4-hour chart are above the horizontal moving averages.
What’s next for Ether?
Ethereum is trading in a downtrend and could fall further if it is rejected at its recent high. On the 4-hour chart, the price bars are above the moving average lines but below $2,550. Once Ethereum breaks above the moving averages, it will resume its uptrend.
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.
Source: https://coinidol.com/ether-price-holds-above/