Coinidol.com: Ethereum's Volatility is Limited Above $2,300

Ethereum's price has resumed its upward trend after being caught between the moving average lines since April 27.

However, if Ether fails to surpass recent highs, sideways movement may continue above the moving average lines. If Ether loses its current support, it could fall to a low of $2,200. Today, Ether is at $2,290.

Resistance Levels: $4,500 and $5,000

Major Support levels: $3,000 and $2,500

The cryptocurrency price is above the moving average lines but has been held back by the $2,400 barrier. There are extended candlestick wicks above the $2,400 mark, signalling strong selling pressure at this peak.

On the 4-hour chart, the price bars are trapped between the moving average lines, indicating sideways movement. Ether is likely to continue trending sideways for several days.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.