The price of Ethereum has been above the moving averages since April 26. The price movement has remained stable above the moving averages due to the Doji candlesticks.
Ethereum price long-term analysis: bullish
The doji candles show traders’ hesitation about the direction of the market, which can go either way.
If Ether falls below the moving averages, it will drop above $1,500 before reaching critical support at $1,300. Resistance above $1,880 is currently hindering the upside.
But if ETH overcomes this resistance, it will rise above $2,100, but the price will be under selling pressure.
Ethereum indicator analysis
The ETH price bars show doji candlesticks with long wicks and tails indicating buying and selling pressure and are above the moving average lines.
However, ETH will fall if the bears break below the 50-day SMA. Despite being above the moving average lines, the price bars on the 4-hour chart are rejected.
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 has held above the moving average lines since the recent breakout and is hovering between the $1,760 support and below the resistance at $1,880 on the 4-hour chart. Once either the support or resistance is broken, the price of the market will be set.
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-above-1800/