The price of Ethereum fell to a low of $1,411 on April 7. The largest altcoin has breached the support level of $1,750.
Ethereum price long-term analysis: bearish
Ether was trading below the moving average lines but above the $1,750 support. On April 6, Ether fell below the $1,750 support level, as reported by Coinidol.com.
Ether’s price has fallen today and is now trading at $1,467. The largest altcoin has fallen to its historical price level of August 14, 2023. Selling pressure has stalled above the $1,500 support level.
On the downside, Ether will drop to a low of $1,350 if the bears break the $1,500 support. The uptrend will return if the buyers sustain the price above the 21-day SMA.
Analysis of Ethereum indicators
Ether price has broken the 21-day SMA barrier and dropped below the support at $1,750. The resistance line of the price bars is the 21-day SMA. The 50-day and 21-day SMAs have fallen sharply to the bottom of the chart.
Technical Indicators:
Resistance Levels – $4,000 and $4,500
Support Levels – $2.000 and $1,500
What is the next direction for Ethereum?
Ethereum has fallen again to a low of $1,550 after losing support at $1,750. Ether is wavering between resistance at $1,800 and support at $1,400. The price action was halted when doji candlesticks appeared at the bottom of the chart.
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.
