Ethereum's price has entered a range-bound movement after bullish momentum was halted at the $1,800 high.
Ethereum Price Long-Term Analysis: RangingOn June 15, buyers pushed the price above the $1,800 high twice but were repelled. Had buyers succeeded above the current high, the largest altcoin would have regained its psychological price of $2,000.00. Today, Ether is falling as it approaches its current support at $1,500.
On the downside, if the current support holds, the largest altcoin will resume its range-bound movement between the $1,500 support and the $1,800 high.
Technical indicators:Key Resistance Levels: $3,500 and $4,000
Key Support levels: $2,000 and $1,500
Ethereum Indicator AnalysisThe 21-day SMA is below the 50-day SMA and is sloping downward. The price bars are below the moving average lines, indicating a downward movement. Today, the price bars are being rejected by the 21-day SMA barrier, signalling the cryptocurrency's decline.
On the 4-hour chart, the price bars are situated between the upward-sloping moving average lines. Ether's price remains stuck within a narrow range.
On the downside, if the price falls below the 50-day SMA support, Ether will drop to a low of $1,500. The upward price movement will begin when it breaks above the 21-day SMA barrier. Meanwhile, the price remains trapped between the moving averages.
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.
