Ethereum has regained its positive momentum since April 26 by breaking above the moving average lines.
Ethereum price long-term analysis: bullish
However, buyers have failed to sustain the upside momentum above the moving average lines. The uptrend was halted by the barrier at $1,880. Ether is expected to reach a high of $2,100 if the bulls overcome the resistance at $1,880.
Moreover, Ether will stop its downtrend once the buyers breach the $2,100 barrier. The price of the altcoin will continue to rise and peak at $2,600 and $2,800.
After reaching its recent peak, the crypto price is currently declining. On the downside, Ether will return to the existing support level of $1,300 if the altcoin falls and breaks below the moving average lines. Ether is now trading between the price range of $1,300 and $1,900.
Meanwhile, Ether remains above the moving average lines after retreating. The price of the largest altcoin currently stands at $1,830.
Ethereum indicator analysis
Since the breakout on April 23, as reported by Coinidol.com previously, the Ether price bars have been above the moving average lines.
The altcoin is hitting a roadblock near the previous high, but should rise above the moving average lines. The price bars on the 4-hour chart are above the horizontal 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 Ethereum?
Ether is expected to rise again after crossing the moving average lines.
On the 4-hour chart, Ether has started a sideways movement below the resistance level at $1,880. The altcoin is trading in a narrow range, above the moving average lines and below the resistance at $1,880. Ether is pulling back after failing to break above the resistance at $1,880.
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/ethereum-cannot-continue/