Ethereum Finds Support above $3,000 as Buyers Revisits the $3,300 High
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Ethereum Price Long-Term Analysis: Bullish
Ethereum’s (ETH) price has made positive moves as buyers revisits the $3,300 high. Ether’s price breaks the 21-day line moving average but failed to break above the 50-day moving average. The largest altcoin has rallied to $3,300 resistance zone as it faced rejection at the recent high. The altcoin would have rallied to $3,800 if it had broken above the moving averages. Ether has retraced to $3,000 support. The uptrend will resume if the current support holds.
Ethereum Indicator Analysis
Ether price is above the 21-day SMA but below the 50-day SMA indicating a possible price fluctuation between the moving averages. The altcoin is at level 53 of the Relative Strength Index for period 14. The altcoin is in the uptrend zone and capable of further upward move. Ether is below the 40% range of the daily stochastic. It is in a bearish momentum but it is approaching the oversold region.
Technical indicators:
Major Resistance Levels – $2, 600, $2,800, $3,000
Major Support Levels – $1.500, $1, 300, $1,100
What Is the Next Direction for Ethereum?
Ethereum is in an upward move as buyers revisits the $3,300 high. Ether’s price is making a series of higher highs and higher lows. The uptrend has reached the high of $3,288 but has been repelled at the $3,300 resistance zone. The biggest altcoin has retraced to the support above the 50-day SMA. Ether will resume upward if the 50-day SMA support holds.
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