Coinidol.com: Ethereum Falls to Its $1,715 Trough

Ethereum has fallen to $1,715 after losing its critical support above $2,000.

Ethereum Price Long-Term Analysis: Bearish Technical indicators:

Resistance Levels: $3,500 and $4,000

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

Ethereum Indicator Analysis

The horizontal moving average lines are currently trending downwards. The 21-day SMA is below the 50-day SMA, indicating a downtrend. The cryptocurrency price has slipped below its moving average lines.

On the 4-hour chart, both the 21-day and 50-day SMAs have moved significantly lower towards the bottom of the chart.

What Is the Next Direction for Ethereum?

Today, the cryptocurrency price reached a low of $1,715 as bulls bought the dips. The altcoin is trading within a range above the $1,700 support and below the moving average lines.

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.