Ethereum Holds Above $1,800 but Struggles Below $1,880 High
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Ethereum Price Long-Term Analysis: Bearish
Ethereum’s (ETH) price fluctuates below and above the 50-day SMA but struggles below $1,880 high. The $1,880 peak stands for the rising movement’s rejection. Ether is below the moving average lines and in the bearish trend zone. It is currently at a low of $1,851 as of the time of writing. The biggest altcoin will fall to the next support level at 1,700 if the bearish momentum continues. On the plus side, if Ether rises beyond $1,800, it will cross over the moving average lines. The upward movement will persist to a peak of $2,000. Ether has been oscillating above $1,800 since April 21. The existing support is still intact.
Technical indicators:
Major Resistance Levels – $2, 600, $2,800, $3,000
Major Support Levels – $1.600, $1, 400, $1,200
Ethereum Indicator Analysis
On the Relative Strength Index for period 14, the largest altcoin is at level 48. The altcoin remains above the $1,800 support despite being in a bearish trend zone. Although the price bars oscillate above the $1,800 support, they are below the moving average lines. The altcoin is rising over the daily Stochastic threshold of 25. There is resistance to the upward momentum at the $1,880 high.
What Is the Next Direction for Ethereum?
Ether’s cost has been ranging between $1,800 and $1,960 since April 21 but struggles below $1,880 high. The upward momentum is currently limited below the $1,880 high as Ether drops. The decline will resume if the bears’ breach below the $1,800 support.
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