The cryptocurrency is trading above the $1,400 support and below the moving average lines, but the bulls have been buying the dips.
Ethereum price long-term analysis: bearish
The price of Ethereum has fallen to a low of $1,383 since April 9, as reported by Coinidol.com.
Now, the direction of the market has been the subject of a price war between bulls and bears over the past 48 hours. Ether is reaching its all-time highs today.
On the plus side, Ether will rally if buyers lift the price above the $1,750 peak. However, if the bears break through the current support level at $1,300, Ether will fall further. Ether will then fall to the low of $1,150. In the meantime, Ether is rising steadily and has reach a high of $1,644.
Analysis of the Ethereum indicators
The price bars for Ether have stalled below the downward sloping moving average lines but above the $1,400 support. Doji candlesticks are still prevalent as the altcoin is continuously rising above the current support. The moving average lines that were previously sloping upwards on the weekly chart are now sloping downwards.
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?
The Ethereum price is currently below the moving average lines and above the support level of $1,400.
The crypto price has been trading above the current support for the past five days, but the upward movement has stagnated and remained range-bound. If Ether recovers above the $1,750 high, it will bounce back from its dip.
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.
Read the full article here