Ethereum Consolidates Above $1,800 but Challenges the $1,900 High

Ethereum Price Long-Term Analysis: Bearish
Ethereum (ETH) price remains within the moving average lines but challenges the $1,900 high. Ether dropped to a low of $1,827.90 before starting to oscillate once more between the moving average lines. Ether will trend when the moving average lines cross. If Ether falls and breaches below the 50-day SMA, the bearish trend will continue until the price reaches a low of $1,700. On the other hand, if it crosses the 21-day SMA, prices may start heading higher again. The altcoin’s value will again increase to reach its former peak of $2,000. Ether is currently retracing over the $1,800 support.

Ethereum Indicator Analysis
Ether has a Relative Strength Index of 50 for period 14. The largest altcoin has hit its equilibrium price level, but if it continues to decrease, it will enter a bearish trend zone. Due to the most recent decline, the price bars for Ether are located between the moving average lines. The cryptocurrency will likely resume its range-bound movement between the moving average lines. In the oversold region of the daily Stochastic, the biggest altcoin is already below level 20.

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 is consolidating above the $1,800 support but challenges the $1,900 high. The bearish momentum has lessened as Ether’s price fluctuates between $1,800 and $1,900. The coin’s value fluctuates between the moving average lines. The largest altcoin will trend when the moving average lines are broken.

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