Ethereum Is Stuck in a Range but Is on an Upward Trend

Ethereum Price Long-Term Analysis: Bearish
Ethereum (ETH) is falling but is still above $1,500 and on an upward trend. The largest altcoin is continuing to rise and is holding above the present support. The moving average lines or the resistance at $1,600 will stand in the way of further upward progress. In any case, the altcoin has been stuck moving in a band between $1,500 and $1,700. These levels have not been broken since January 20, when the sideways trend began. The altcoin is now looping over the support level. For instance, if the bears breach the $1,500 support, the downtrend will begin. As it drops considerably more, Ether will hit a low of $1,352. Yet if the current support holds, the cryptocurrency will continue to act range-boundary between the range-bound levels.

Ethereum Indicator Analysis
During period 14, Ethereum Relative Strength Index level has stayed at 44. For the past 24 hours, the largest altcoin has maintained above the existing support. Since the price bars are below the moving average lines, ether prices could decline. The Ether market is currently in the oversold area of the market. The daily Stochastic for Ether is at level 20 or lower.

Technical indicators:
Major Resistance Levels – $2, 600, $2,800, $3,000
Major Support Levels – $1.600, $1, 400, $1,200

What Is the Next Direction for Ethereum?
Ethereum continues to maintain above the $1,500 level of current support but is on an upward trend. Doji candlesticks, which have little body and lack conviction, are used to measure price movement. The present consolidation was caused by these candlesticks.

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