Coinidol.com: Ethereum Struggles Below the $1,850 Barrier

ETH buyers have made three unsuccessful attempts to push the price above $1,800.

Ethereum Price Long-Term Analysis: Ranging

Ethereum has moved sideways above the $1,500 low. Now, the largest altcoin’s upward movement has been capped by resistance at $1,850. If buyers clear the $1,800 high, Ether is likely to rise again towards the psychological level of $2,000.

Today, the ETH price has rebounded above the $1,700 low after rejection at the $1,850 high. Buyers remain active as the price finds support and continues to trade sideways above $1,700. On the downside, if sellers break through the current support around $1,700, Ether could fall back towards its key support zone above $1,500. Ether price is at $1,779 at the time of writing.

Technical indicators: 

• Resistance Levels: $3,500 and $4,000

• Support Levels: $2,000 and $1,500

Ethereum Indicator Analysis

The cryptocurrency price has moved above the horizontal moving average lines, although the uptrend has been constrained by resistance near $1,850. The price is fluctuating above the 50-day SMA support but still below $1,850. On the 4-hour chart, the moving average lines are sloping upwards, indicating an upward correction.

What Is the Next Direction for Ethereum?

Ethereum’s price remains range-bound, stalling below the $1,850 high. On the 4-hour chart, ETH is trading in a narrow band above the $1,700 support but below the $1,850 high. Ether’s price is consolidating within this range above the $1,700 support. Long candlestick tails extending above the $1,700 low indicate significant buying demand.

However, the upward movement has been halted by the $1,850 barrier, suggesting that Ether will remain within its current trading range.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.