Ethereum price is rising again after falling to $1,383. The bulls bought the dips on April 9 and rose back above the $1,400 support level.
The largest altcoin is trading above the $1,400 support but below the moving average lines. The digital asset will resume its uptrend if buyers push the price above the 21-day SMA or the $1,750 level. The altcoin will hit the 50-day SMA or the psychological milestone of $2,000 if it breaks above the 21-day SMA barrier.
Ether will continue its uptrend if the price breaks above the moving average lines. Ether will continue to rise and peak at $2,400 and $2,800. At the time of writing, the largest altcoin is valued at $1,675.
The price bars reach lower highs and lower lows below the downward moving average lines. The moving average lines on the weekly chart have crossed negatively. In other words, a bearish signal is indicated when the 21-day SMA is below the 50-day SMA.
Technical Indicators:
Major Resistance Levels – $4,000 and $4,500
Primary Support Levels – $2.000 and $1,500
What is the next direction for Ethereum?
Ethereum is trading below the moving average lines but above the $1,400 support. The crypto price is rising and approaching the 21-day SMA barrier. If Ether falls off the 21-day SMA, it will continue to move sideways. The uptrend will return if it breaks above the 21-day SMA.
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.
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