Ethereum Trades Above $3,700 as It Targets the Psychological Level

Ethereum Price Long-Term Analysis: Bullish
Ethereum’s (ETH) price rebounds as it targets the psychological level. Buyers have persistently maintained above the breakout level of $3,730. However, bulls have been unable to break through resistance levels above $3,900. On the upside, Ether has attained bullish exhaustion as price bars approach the moving average lines.

On the upside, if buyers break through the resistance levels above $3,900, the market will rise to a high of $4,200. On the downside, Ether will fall if the bears violate the $3,700 support and 21-day moving average levels. The altcoin will fall above the 50-day SMA support, or $3,350 low. ETH/USD is currently valued at $3,865.

Technical indicators:  
Major Resistance Levels – $3, 600, $3,800, $4,000
Major Support Levels – $2.600, $2, 400, $2,200

Ethereum Indicator Analysis 
Ether is slowly rising, with the price bars above the moving average lines. The occurrence of Doji candlesticks has had an impact on Ether’s price movement. These little, indecisive candlesticks, or Dojis, will mark the end of the upward trend.

Conclusion  
On the 4-hour chart, Ether is trading sideways between $3,700 and $3,900 as it targets the psychological level. On June 5, the altcoin recovered but was stopped by resistance near $3,900. The crypto price is oscillating below its recent peak. On the upside, if the altcoin rebounds, Ether will break through barriers the levels above $3,900. The crypto will rise above the $4,000 high. Currently, the crypto signal is limited due to Ether’s restricted range.

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