Ethereum prices tend to be horizontal, trading between $2,400 support and $2,600 mark.
Ethereum Price Long-Term Analysis: Range
As reported by Coinidol.com, the largest AltCoin has been trading between $2,200 and $2,800 support levels since May 10th.
Today, ether is traded to a limited extent, preparing for a possible breakout or breakdown. Cryptocurrency prices have risen beyond the 50-day SMA, approaching a high of $2,600.
As soon as a buyer breaks through the $2,600 mark, the ether hits a high of $2,800. If the ether falls below the 50-day SMA, it can get caught between the moving averages. The bullish scenario is then void and the ether continues to move within trading range.
Ethereum Indicator Analysis
Cryptocurrency prices have risen beyond the 50-day SMA, previously trapped between moving average lines. Holding SMA support for 50 days increases the price of ether.
The price bar is currently higher than the horizontal moving average. This will increase the price of Altcoin.
Technical indicators:
Major Resistance Levels – $4,000 and $4,500
Key Support Levels – $2.000 and $1,500
What’s next in Ethereum?
Ethereum will continue to be uptrend if it breaks above $2,600. Altcoin continues to go above $2,800. However, if $2,400 in support and $2,600 in barriers are retained, the horizontal trend continues. Currently, the ether is steadily rising to $2,600.
Disclaimer. This analysis and prediction is the author’s personal opinion. They do not recommend buying and selling cryptocurrencies and should not be considered as approval by coinidol.com. Readers should do research before investing in funds.
