Ethereum’s Rising Trend Resumes as It Remains above $1,700

Ethereum Price Long-Term Analysis: Bullish
Ethereum (ETH) price is in the area of an increasing trend as it remains above $1,700. The present fall is anticipated to continue until it reaches the $1,600 support level. Ether is currently worth $1,718 as of the writing of this sentence. The $1,700 level of support is being retested by Ether. Since March 17, Ether has fluctuated between $1,700 and $1,850.The range-bound move will continue if the existing support is maintained. Even if sellers breach the current support, there will still be selling pressure. The price indicator predicts that Ether will decline before turning around to a price of $1,694. Currently, the altcoin is trading above the $1,700 support.

Ethereum Indicator Analysis
In the Relative Strength Index, Ether is at level 52 during period 14. The biggest altcoin is now in the area of a positive trend following the pullback. It has further potential for upward movement in the bullish trend zone. The price bars for Ether have remained above the moving average lines after the retracement. Market growth will return it to the previous high. Over the daily Stochastic level 25, Ether is trending upward.

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?
The increasing trend for Ethereum has resumed as it remains above $1,700. The altcoin is predicted to resume its upward trajectory to the prior high. As long as the price bars are higher than the moving average lines, Ether will increase. The altcoin will attempt to rise above the $1,800 and $1,850 resistance levels thanks to buyers.

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