Ethereum Continues Its Positive Moves as It Hits the $2,310 High
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Ethereum Price Long-Term Analysis: Bullish
The price of Ethereum (ETH) has continued to rise as it hits the $2,310 high. The upward trend will continue if the altcoin retraces above the moving average lines or the breakthrough level. The uptrend is not over, as price indicators indicate that the cryptocurrency will continue to rise. Today, the biggest altcoin has retraced and is hovering above the $2,200 support level.
ETH/USD is increasing in value as it approaches the previous high of $2,269. If the current resistance level is breached, the market will surge to a high of $2,500. Ether has started to increase again, reaching a high of $2,310.40.
Technical indicators:
Major Resistance Levels – $2, 600, $2,800, $3,000
Major Support Levels – $1.600, $1, 400, $1,200
Ethereum Indicator Analysis
Ether is rising after retreating above the 21-day SMA support. This suggests that the upward trend is ongoing. The price bars are higher than the moving average lines and are pointing northward, indicating an uptrend. The altcoin is on a strong uptrend as it moves through the market’s overbought zone.
Conclusion
Ethereum has broken through the previous high and continues its upward trend as it hits the $2,310 high. As Ether begins its second leg of positive momentum, the present bullish momentum is predicted to hit a high of $2,500. The bullish momentum reached a high of $2,300 before reversing. The retracement represents a continuation of the cryptocurrency’s upward movement.
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