Ethereum’s Uptrend Continues, But Remains Above $1,750

Ethereum's price was halted at the 50-day SMA barrier despite breaking above the moving average lines.

Ethereum price long-term analysis: bullish

The crypto price is above the 21-day SMA but below the 50-day SMA after retreating from its recent high. The largest altcoin will rise to $2,100 if buyers break the 50-day SMA. The bears will pose a challenge at the $2,000 psychological mark. If the price of the cryptocurrency retraces and stays above the 21-day SMA, it will be trapped.

On the other hand, if the bears break the 21-day SMA support, Ether will either return to its previous range or fall above the $1,500 level. Currently, Ether is trading above the critical support level of $1,750. The largest altcoin will fall once the bears break below the $1,750 support. Ethereum is worth $1,796 at the time of writing.

Ethereum price indicator analysis

After the current rally, Ether price bars are between the moving average lines. In the event that buyers keep the price above the 50-day SMA, the altcoin will resume its uptrend. The 50-day SMA has not been breached since January 7, as reported by Coinidol.com previously.

On the 4-hour chart, the Ether price is above the moving average lines. However, the upward momentum has stalled at the $1,850 level.

Technical Indicators:

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

Key Support Levels – $2.000 and $1,500

What's next for Ethereum?

The largest altcoin has started to rise again after breaking through resistance at $1,750. On the daily chart, a positive trend will resume once Ether price breaks above the 50-day SMA.

On the 4-hour chart, Ether is currently trading above the moving average lines but below the high of $1,850. The sideways movement will continue if the range-bound levels are not broken.

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.