Ethereum’s Price Uptrend Faces The $2,100 Barrier

ETH price broke above the 21-day SMA after bouncing off the support at $1,900.

Ethereum price long-term analysis: bearish

The largest altcoin is below the 50-day SMA barrier but above the 21-day SMA support. ETH is pulling back south as resistance at $2,100 hinders the upside. Ether will rise if the bulls break above the psychological price threshold of $2,000.

On the other hand, ETH will fall back to its previous low of $1,754 if it declines further and falls below the 21-day SMA support. Ether is currently trading above the 21-day SMA support at $2,055.

Ethereum indicator analysis  

The moving average lines have dropped significantly on the daily chart. ETH will be forced to move above support as the price bars are above the 21-day SMA but below the 50-day SMA. The long candlestick tails on the weekly chart are pointing below the $2,000 support, indicating strong buying pressure.

Technical Indicators:

Key Resistance Levels – $4,000 and $4,500

Key Support Levels – $2.000 and $1,500

What is the next direction for Ethereum?

At a high of $2,100, the bullish momentum hits its first obstacle. However, Ether will have to make a range-bound move between the $1,750 support and below the most recent high of $2,100 if it is unable to break above the initial barrier.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.