Ethereum Fluctuates as It Targets the $2,000 Psychological Price Barrier

Ethereum Price Long-Term Analysis: Bullish
Ethereum (ETH) price has retraced above the moving average lines as it targets the $2,000 psychological price barrier. At the time of this writing, the price of Ether is $1,793.50. Since March 20, the range of prices between $1,700 and $1,850 has been the only one that can move. If the current price levels of support and resistance are preserved, the move will remain range-bound and take place within small price ranges. If sellers breach the existing support, the selling pressure will pick back up. The next support level for Ether is $1,600. In contrast, if the price rises over the $1,850 high and the positive momentum continues, the bullish trend will restart. Ether will surpass the $2,000 psychological price barrier.

Ethereum Indicator Analysis
Ether is at level 54 during period 14 of the Relative Strength Index. Following the downturn, the largest altcoin is now in an area of a bullish trend. In the bullish trend zone, it has more room to continue upward. After the pullback, the price bars for Ether have continued to trade above the moving average lines. More than the daily Stochastic level of 50, the bullish momentum has slowed.

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?
Ether’s price is constantly moving between $1,700 and $1,850 as it targets the $2,000 psychological price barrier. The range-bound move will begin if the price level reaches the current support or resistance levels. On the other hand, the market will trend if the range-bound levels are broken.

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