Ethereum Stabilizes above $2,200 as Traders Consider the Next Move

Ethereum Price Long-Term Analysis: Bearish
Ethereum’s (ETH) price has fallen below the moving average lines as traders consider the next move. The largest altcoin is consolidating due to the buyer’s failure to sustain the price above the moving averages. Ether peaked at $2,391 before being repulsed. The price movement is hampered by the moving average lines and the barrier at $2,300.

ETH/USD is now fluctuating modestly, ranging between $2,100 and $2,300. If Ether rebounds above the $2,200 support level, it will resume its upward trajectory. The cryptocurrency price is predicted to rise above the moving average and resistance at $2,300. The bullish momentum will continue to the highs of $2,400 and $2,700. Ether risks falling if it retraces and falls below $2,200.

The market will fall to the $2,000 psychological price level.

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

Ethereum Indicator Analysis
Ether is stabilizing below the moving average lines, while price bars stay stable above the current support. Since the fall ended, the moving average lines have been sloping horizontally. Furthermore, Doji candlesticks currently dominate the price movement. This has resulted in a standstill price movement.

Conclusion
On the 4-hour chart, Ether trades around the $2,190 to $2,350 price range as trader consider the next move. Doji candlesticks have entirely taken over the price bars as the crypto signal remains range-bound. The price movement has been restrained due to the disagreement between buyers and sellers.

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