Ethereum Bounces but Struggles below the $1,850 High

Ethereum Price Long-Term Analysis: Bullish
The price of Ethereum (ETH) has risen above the $1,700 peak but struggles below the $1,850 high. Ether is currently trading at $1,767, below the $1,800 resistance level. If Ether finds support above the $1,700 low, the current trend might persist. A retraced candle body on the uptrend of March 14 tested the 61.8% Fibonacci retracement level. According to the retracement, ETH will increase to level 1.618 of the Fibonacci extension, or $2023.89. Ether is currently bouncing below the $1,800 resistance level. When the current resistance is broken, the upward trend will resume.

Ethereum Indicator Analysis
Ether is moving upward at level 61 of the Relative Strength Index for period 14. The value of the altcoin might rise even further. As long as the price bars remain above the moving average, Ether will increase. Ether is currently moving down below the daily Stochastic level of 50, which is a bearish sign. Ether’s fluctuations below the resistance level have caused the bearish momentum to slow.

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 price of Ether is fluctuating only slightly between $1,700 and $1,800 but struggles below the $1,850 high. The resistance of $1,850 twice halted the upward movement. For a potential upward movement, the altcoin has retraced above the $1,700 support. If price falls below the moving average lines or the $1,700 support level, the current uptrend could end.

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