Ethereum Stops Above $3000 As Bulls For An Uptrend

Apr 15, 2024 at 10:54 // Price
Coin Idol
Ether will remain above the current support

The price of Ethereum (ETH) has fallen below the moving average lines, with the altcoin reaching a low of $2,848.

Long-term analysis of the Ethereum price: bearish

The recent drop has put an end to the current rise. On April 13, bulls bought the dips as Ether rose above the $3,000 support. If the buyers hold the $3,000 support, Ether will rally to previous highs of $3,600 and $4,000. On the other hand, if the bears break the $3,000 support and the negative momentum continues, Ether will fall to a low of $2,700. Meanwhile, the value of the altcoin stands at $3,045.

Ethereum indicator analysis

The largest altcoin is bearish and has a bearish crossover. On both charts, the 21-day SMA has crossed below the 50-day SMA support, which is a bearish signal. On April 13, Ether formed a long candlestick tail, indicating strong buying pressure at the $2,800 support.

ETHUSD_(Daily Chart) –April 14.24.jpg

Key resistance levels – $4,000 and $4,500

Key support levels – $3,500 and $3,000

What is the next direction for Ethereum?

Ether's uptrend has ended as it fell below the moving average lines. The bulls have halted the decline above the $3,000 level. The altcoin will remain above the current support and traders will decide whether the price will go higher or lower.

ETHUSD_( 4-hour Chart) –April 14.24.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 Readers should do their research before investing in funds.

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