Ethereum Stops At $1,850 And Starts A Sideways Trend

Mar 24, 2023 at 10:48 // Price
Coin Idol
Ether has moved in a sideways direction due to the resistance at $1,850

Ethereum (ETH) is currently trading in the positive trend zone and bouncing above the $1,800 support.

Long-term analysis of Ethereum price: bullish

Since March 14, the uptrend has stalled above the $1,800 support. At the time of writing, the Ether price is at $1,819. The price movement has remained the same above the current support. The upward movement was stopped by the resistance at $1,850. Last week, the price of the cryptocurrency retested the resistance level to continue rising. The resistances of $1,850 and $1,900 will be overcome if Ether rises above $1,800 again. The largest altcoin will then rise to a high of $2,000. Ether is currently trading just above the $1,800 support.

Ethereum indicator analysis 

Ether's Relative Strength Index (RSI) for the 14 period is 63, and the RSI remains unchanged as long as Ether stays above the $1,800 support. Ether's price bars continue to trade above their upward moving average lines. Stochastic on the daily chart is still below the bearish momentum at level 80. The pace of the decline has slowed down.

ETHUSD(Daily Chart) - March 24.23.jpg

Technical indicators:

Key resistance levels - $2,000 and $2,500

Key support levels - $1,800 and $1,300

What's next for Ethereum?

The largest altcoin has moved in a sideways direction due to the resistance at $1,850. The price of the cryptocurrency has tried to break through the resistance level five times without success. Each time the resistance level is retested, Ether moves below or above the moving average lines. The moving average lines are currently being hit by Altcoin while it is going down.

ETHUSD(4 Hour Chart) - March 24.23.jpg

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

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