CryptoSignals News
Join our Telegram

Ethereum Remains above $2,200 as It Continues Its Upward Trend

Estimated Reading Time: 2 minutes

Article Rating:
Based on 1 vote
Login to rate this article.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

Ethereum Remains above $2,200 as It Continues Its Upward Trend

Ethereum Price Long-Term Analysis: Bullish
The price of Ethereum (ETH) finds support above the 21-day SMA as it continues its upward trend. The biggest altcoin has pulled back and is currently steadily rising above the 21-day SMA support, thanks to the formation of small, uncertain candlesticks, or Dojis. Ether is currently trading above the 21-day simple moving average, or $2,200.

Buyers have turned the 21-day simple moving average (SMA) into support as they aim to push Ether back to its prior high. Buyers are aiming to push the altcoin up to the psychological price barrier of $3,000. On December 28, the cryptocurrency surged to a high of $2,447 before being repulsed. ETH/USD is now valued $2,274.50.

Conversely, a return of selling pressure is indicated if the bears are able to break below the 21-day SMA support and sustain bearish momentum.

Ethereum Remains above $2,200 as It Continues Its Upward Trend
ETH/USD – Daily Chart

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

Ethereum Indicator Analysis
Although the price bars are above the 21-day SMA, the bears are threatening to short. The upward trend is supported by the 21-day SMA support. The appearance of Doji candlesticks has slowed the price movement. The moving average lines slope northward despite the sideways trend.


Conclusion
ETH/USD retraces above the 21-day simple moving average (SMA) as it continues its upward trend. When the current support levels are held, the largest altcoin will restart its bullish ascent. In addition, the altcoin has been trading in a range between $2,200 and $2,440. When the range bound levels are breached, Ether will either appreciate or depreciate.

Ethereum Remains above $2,200 as It Continues Its Upward Trend
ETH/USD – 4 Hour Chart


You can buy crypto coins here. Buy LBLOCK

Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Recent News

October 14, 2024

Enjin Coin (ENJUSD) Sees Increased Bearish Pressure

Market Analysis – Enjin Coin Sellers Eye Key Support Level  ENJUSD buyers face a significant bearish threat as selling pressure mounts, pushing the price back to the $0.15350 support level. Despite buyers’ earlier attempts to regain momentum, they struggled to maintain control, allowing...
Read More
February 21, 2024

Bitcoin (BTC/USD) Trade Reverts to a Correction, Hitting $52,500

Bitcoin Price Prediction – February 21 A long straight line has been produced in the market operations of Bitcoin against the valuation of the US coin as the crypto-economic trade reverts to a correction after hitting a resistance around the point of $52,500. For the lengthy upward-trending price m...
Read More

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

arrow Join our free telegram