Ethereum Price Increases but Is Unable to Sustain above $1,700 Support
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Ethereum Price Long-Term Analysis: Bullish
Ethereum’s (ETH) price is increasing but is unable to sustain above $1,700 support. Buyers have been unable to maintain the bullish momentum above the $1,700 resistance level. The largest altcoin’s upward momentum will pick up again if it passes through the current resistance level. On the plus side, a rally to $1,800 and $2,000 is anticipated if Ether overcomes the current resistance level. The cryptocurrency’s price fluctuates above the $1,700 support, halting upward movements. At the time of writing, the price of Ether is $1,705 per unit.
Ethereum Indicator Analysis
At level 61 of the Relative Strength Index for period 14, Ether is in the bullish trend zone. As long as the price bars remain above the moving average lines, ether will rise. The daily Stochastic for the alternative coin is above level 80. The price of ether is currently overbought. The upward slope of the moving average lines indicates an uptrend.
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’s upward movement has halted as it is unable to sustain above $1,700 support. The market for the coin has become overbought. The overbought state of the cryptocurrency has resulted in a lack of price movement.
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
