The price of Ether has been declining since it fell below the psychological price threshold of $2,000.
Currently, ETH price stands at $1,871.
Ethereum price long-term analysis: bearish
Ethereum price long-term analysis: bearish
Ethereum is expected to fall to the low of $1,750. Ether will fall further to the low of $1,550 if it loses the $1,750 support. Meanwhile, Ether has entered the oversold territory of the market.
On the upside, the uptrend will resume if buyers keep the price above the crucial $2,000 price level. Ether will rise to retest or break above the moving average lines.
Ether falls as it retests existing support and begins to move lower.
Ethereum indicator analysis
Both the 50-day and 21-day SMA are moving lower. Every time the crypto price retests the 21-day SMA barrier, Ether will fall. Ether has fallen due to the bearish crossover of the moving average lines. The market has reached the oversold territory as buyers are most likely to emerge.
Technical Indicators:
Key Resistance Levels – $4,000 and $4,500
Key Support Levels – $2.000 and $1,500
What is the next direction for Ethereum?
Ether fell to $1,754 but recovered above the $1,800 support level. The crypto price is bouncing between the moving average lines and the support at $1,800. If the support at $1,800 is broken, the downtrend will resume. Ether will fall to $1,550.
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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